"Egypt Aluminum" aims to invest LE 493M during 2021/2022

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Tue, 04 May 2021 - 02:15 GMT

FILE PHOTO: An employee looks at an aluminum foil roll being lifted at a plant in Binzhou, Shandong province, China May 16, 2017. Picture taken May 16, 2017. REUTERS/Stringer

FILE PHOTO: An employee looks at an aluminum foil roll being lifted at a plant in Binzhou, Shandong province, China May 16, 2017. Picture taken May 16, 2017. REUTERS/Stringer

CAIRO – 4 May 2021: The Ordinary General Assembly of Egypt Aluminum Company approved the draft estimated budget for the current activity for the fiscal year 2021-2022, with a net profit of LE 138.39 million.

 

The company said in a statement to the Egyptian Stock Exchange, Tuesday, that it also approved the investment budget for the fiscal year 2021-2022, amounting to LE 493.22 million, with self-financing.

 

During the first nine months of the current fiscal year, the company achieved losses amounting to LE 347.72 million during the period from July to last March, compared to losses amounting to LE 1.02 billion in the comparative period of the last fiscal year.

 

The company's revenues increased during the period to LE 8.14 billion, compared to LE 5.57 billion in the comparative period of the last fiscal year.

 

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