Egypt Aluminum targets $101mln profits in FY23/24

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Revenues enlarged to $270mln in H1-22/23

Staff Writer, Mubasher

April 10, 2023

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Cairo – Egypt Aluminum plans to achieve EGP 3.12 billion in net profit after tax during fiscal year (FY) 2023/2024, compared to EGP 3.02 billion in FY22/23, according to a bourse filing.

The EGX-listed firm also aims to generate sales amounting to EGP 26.60 billion during the 12-month period that will end on 30 June 2024, versus EGP 20.50 billion in the previous FY.

It is worth noting that the board members passed the estimated budget for FY23/24 during their meeting on 6 April.

In the first half (H1) of FY22/23, the net profits after tax of Egypt Aluminum hiked to EGP 1.70 billion from EGP 814.15 million in the year-ago period.

Revenues enlarged to EGP 8.35 billion in H1-22/23 from EGP 6.69 billion in H1-21/22, while the earnings per share (EPS) climbed to EGP 2.40 from EGP 1.14.

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