Egypt Aluminum profits surge 4.2% in 11 months

Egypt Aluminum Company (Egyptalum), the largest aluminium producer in Egypt and Africa, reported Tuesday a 4,236 percent increase in its profits to reach to 1.3 billion pounds during the first eleven months of financial year 2016/2017.

Earlier, profits stood at 30.8 million pounds  during the first eleven months of financial year 2015/2016.

Revenues  jumped to 8.19 billion pounds, compared with 4.5 billion  pounds , according to a bourse filing.

Meanwhile, net profit recorded 894.02 million during the first nine months of financial year 2016/2017.