Egyptalum Says Net Profit Falls 77%; H1

Egypt Aluminum – Egyptalum (EGAL.CA) reported a net profit of EGP 121.210 million during the first half of 2012, 77% down from a year earlier net profit of EGP 534.568 million.

Sales during H1/2012 rose to EGP 4.737 billion, compared to EGP 4.433 billion for H1/2011.

Gross profit, after excluding the cost of sales, dipped to EGP 224.233 million through H1/2012, compared to EGP 691.407 million in H1/2011.

Basic earnings per share, amounted to EGP 0.97 for H1/2012, compared to EGP 4.28 for H1/2011.