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ArabFinance: Egypt Aluminum Companys (Egyptalum) (EGAL) ordinary general assembly approved the budget for the fiscal year (FY) 2021/2022 with an investment allocation of EGP 493.22 million, according to the company statement filed to the Egyptian Exchange.
Egyptalum targets achieving a net profit of EGP 138.391 million in the fiscal year 2021/2022.
In July-March 2021, the listed company incurred a net loss of EGP 347.723 million.
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
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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