Egypt Aluminum posts LE 1.3B profits in 11 months

CAIRO – 04 July 2017: Egypt Aluminum has achieved profits worth LE 1.3 billion ($72.6 million) during the period from July 1, 2016 to May 13, 2017, the company’s chairman Abd Elzaher Abd Elsattar told Egypt Today on Tuesday.

Abd Elzaher Abd Elsattar added that the company is preparing for a new global tender related to its new plant.

Egypt Aluminum’s earnings are expected to rise to more than LE 1.5 billion by the end of the fiscal year 2016/17 for the first time in the company’s history, according to the preliminary indicators.

The company’s stock hit its highest level in seven years on Monday’s trading session.