ArabFinance: Egypt Aluminum (Egyptalum) (EGAL) has turned to profitability for the first nine months of fiscal year (FY) 2021/2022, according to the company’s unaudited financial income statement filed to the Egyptian Exchange (EGX) on May 8th.
The company recorded a net profit after tax of EGP 1.68 billion in the nine-month period ended March 31st, versus a net loss of EGP 347.72 million in the same period of FY 2020/2021.
Meanwhile, revenues grew to EGP 10.76 billion in the period from July 1st 2021 until March 31st from EGP 8.14 billion in the same period of FY 2020/2021.
In H1 FY 2021/2022, the company achieved a net profit after tax of EGP 814.156 million in, versus a net loss of EGP 341.30 million in H1 FY 2020/2021.
Egyptalum is an Egypt-based company specialized in extruding aluminum profiles for architectural and industrial applications. The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.