ArabFinance: Egypt Aluminum (Egyptalum) (EGAL) announced that its board of directors has endorsed the preliminary indicators of the estimated budget for fiscal year (FY) 2022/2023, according to a statement filed to the Egyptian Exchange (EGX).

As per the FY 2022/2023 planning budget, the company targets achieving a net profit after tax of EGP 1.26 billion.

Moreover, the company’s total sales have been estimated at EGP 15.91 billion for FY 2022/2023, including local sales of EGP 6.05 billion.

Exports have been estimated at EGP 9.85 billion under the FY 2022/2023 budget.

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.