Egypt Aluminum Co – Egyptalum (EGAL.CA), the largest aluminium producer in Egypt and one of the largest in Africa, reported a 179 percent increase in profits for the fourth quarter of the financial year 2015/16.
Net profits thus reached 223.2 million Egyptian pounds ($25.2 million), compared with 80 million pounds ($9 million) for the year-ago period.
Over the financial year 2015/16, net profits declined 11 percent year-over-year to 165 million pounds ($18.6 million) from 184 million ($20.8 million), according to unaudited financial results.
Earnings per share stood at 1.32 pounds in 2015/16 against 1.47 pounds a year earlier.
Revenues also went down to 5 billion pounds in the year ended 30 June, from 5.3 billion pounds last year.
Over the first nine months ended on March 31, the company logged 57.71 million pounds losses.
