Arab Aluminium Company posts 75% less profit for Jan-Sept 2023 than a year ago
Arab Aluminium Company (AAC), an Egypt-based company specialised in extruding aluminium profiles for architectural and industrial applications, announced its financial results for the first nine months of 2023 (ended September 30).
According to Arab Aluminium’s financial indicators filed to the Egyptian Exchange (EGX) on November 12, the company’s net profit after tax decreased by 74.9 per cent year-on-year, amounting to EGP 4.911 million. During the corresponding period of the previous year, the company’s net profits after tax stood at EGP 19.587 million.
Revenues fell 13.2 per cent year-on-year to EGP 252.965 million during January-September 2023, down by 13.22 per cent from EGP 291.494 million in the same period a year earlier.
Arab Aluminium Company, established in 1976, has an extrusion facility with 15,000 tonnes per annum. The facility comprises a cast house, three SMS presses, an anodising plant including electro-colouring, a paint line, and a wooden finish & die manufacturing plant.
AAC started exporting its extruded products in 1979 to Europe, Asia, and Arab and African countries.
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