Cairo – Mubasher: Egypt Aluminum’s profits for the fiscal year 2015/16 declined 48.6% year-on-year to EGP 84.8 million from 165 million, according to a bourse filing.
The company attributed this decline to the reassessment of provisions by the Accountability State Authority.
Earlier, the company reported that its net profit for the same fiscal year fell to EGP 165 million from EGP 184 million a year earlier.
On Sunday, the stock quote ended the session higher 0.4% to EGP 11.1 after 2,000 shares were traded at EGP 22,110.
