ArabFinance: Egypt Aluminum Company (Egyptalum) (EGAL) targets achieving a net profit of EGP 138.391 million in the fiscal year (FY) 2021/2022, according to the statement filed to the Egyptian Exchange on April 21st.
The companys board of directors approved an amended estimated budget for FY 2021/2022, targeting sales of EGP 11.295 billion.
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.
Egyptalum 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
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