Arab Finance: Arab Aluminum Company (AAC) posted a 6.9% year-on-year (YoY) decrease in net profits after tax for the first quarter (Q1) of 2023, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on May 28th.
Net profit after tax stood at EGP 5.090 million in Q1 2023, compared to EGP 5.465 million in Q1 2022.
Net sales dropped 3.5% YoY to EGP 99.364 million in the January-March period of 2023 from EGP 102.918 million in the same period last year.
AAC is an Egypt-based company that specializes in extruding aluminum profiles for architectural and industrial applications.
The company undertakes the activities of aluminum billet casting, dies, extrusion, alloys, painting, and anodizing.