Cairo – Mubasher: Egypt Aluminum on Thursday reported a 34% year-on-year decline in profit for the first half of fiscal year 2018/2019.
Net profits amounted to EGP 758.3 million in the six-month period ended December, versus EGP 1.15 billion in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX).
Revenues surged to EGP 7.02 billion at the end of December, from EGP 6.29 billion in the corresponding period of FY17/18.
Egypt Aluminum previously posted a 34% year-on-year drop in profit for the first quarter of fiscal year 2018/2019 due to higher cost of production.
Net profits stood at EGP 468.9 million in the three-month period ended September, versus EGP 712.3 million in the prior-year period.
Revenues rose to EGP 3.6 billion at the end of September, from EGP 3.1 billion in the same quarter of FY17/18.
