Egypt’s Arab Aluminum reports 53% surge in Q1 profits

Egypt-based Arab Aluminum Company (AAC) reported Monday a 53 percent increase in its first quarter profits to reach 1.55 million Egyptian pounds ($85.900).

Earlier, profits stood at 1.01 million pounds during the first quarter of 2016.

Revenues jumped to 70.8 million pounds, compared with 47.7 million pounds during the same quarter a year earlier, the financial statements added.

In 2016, the profits climbed by 4328 percent to 13.5 million pounds, against 305,000 pounds in 2015.

About Arab Aluminum, the company specialises in extruding aluminum profiles for architectural and industrial applications. It produces a range of aluminum materials for use in the building and construction industry.