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Egypt Aluminum’s net profit soars 33% YoY in 9M-23/24

Egypt Aluminum’s net profit soars 33% YoY in 9M-23/24
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Egypt Aluminum
EGAL
3.51% 91.35 3.10

Cairo – Mubasher: Egypt Aluminum recorded a 33% year-on-year (YoY) surge in net profit after tax to EGP 5.22 billion during the first nine months (9M) of the fiscal year (FY) 2023/2024, versus EGP 3.91 billion.

Revenues jumped 52% YoY to EGP 22.46 billion in the nine-month period that ended on 31 March 2024, against EGP 14.75 billion, according to unaudited financial indicators.

The earnings per share (EPS) rose 33% YoY to EGP 7.35 in the July-March period from EGP 5.51.

Egypt Aluminum anticipates a net profit of EGP 4.26 billion in FY24/25 a decrease from the estimated net profit of EGP 4.85 billion in FY23/24.

The company reported a net profit after tax of EGP 3.43 billion in the first half (H1) of FY23/24, a 101% YoY increase from EGP 1.70 billion.