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FINANCIAL NEWS
Emirates Global Aluminum posts 10pct increase in 2016
01 Mar 2017
(MENAFN) Emirates Global Aluminum (EGA) posted a 10 percent increase in 2016 revenue to USD572mn despite a decline in revenue.
Accordingly, this is a result of its focus on cost management, operational efficiencies, continuous improvement of its tech and responsiveness.
However, profit declined 9 percent to 17.1bn dirhams due to lower aluminum prices, stated EGA, which is owned equally by Abu Dhabi and Dubai investment funds.
In addition, its aluminum production increased to 2.5mn tons from 2.4mn a year earlier, while it supplies aluminum to almost 300 customers in more than 60 nations.
MENAFN0103201700450000ID1095276194
MENAFN0103201700450000ID1095276194
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