ArabFinance: Egypt Aluminum Company (Egyptalum) (EGAL) has anticipated the local sales will be impacted positively by the Minister of Trade and Industry's resolution of imposing preventive measures on imports of Aluminum products.
The Ministry of Trade and Industry imposed those measures on molds, cylinders, and wires.
The decision that will be in effect in mid-April, came as a result of the serious damage of the imports on the local manufactory.
The company targets achieving a net profit of EGP 199.87 million in FY 2021/2022, against a net loss of EGP 1.03 billion in FY 2020/2021.
The company expects to suffer a net loss of EGP 661.25 million during the running fiscal year.
Egyptalum reported a 43% Year on Year decline in its net loss in the second half of 2020, suffering EGP 341.3 million, compared to EGP 595.7 million in the prior-year period.
The Egypt-based company is 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.
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