ArabFinance: Egypt Aluminum (Egyptalum) (EGAL) has turned to profitability during the first half (H1) of fiscal year (FY) 2021/2022, according to the company’s unaudited financial indicators filed to the Egyptian Exchange (EGX).

The company recorded a net profit after tax of EGP 814.156 million in H1 FY 2021/2022, versus a net loss of EGP 341.30 million in H1 FY 2020/2021.

Meanwhile, the company generated a revenue of EGP 6.69 billion in the July-December period of 2021, up from EGP 5.01 billion in the same period of 2020.

It is worth noting that Egypt Aluminum reported it achieved a net profit after tax of EGP 304.718 million for the first quarter (Q1) of fiscal year (FY) 2021/2022, against a net loss of EGP 150.97 million in Q1 FY 2020/2021.

Egyptalum is an Egypt-based company specialized in extruding aluminum profiles for architectural and industrial applications. The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.