A surprise swing to losses: Egypt Aluminum (EGAL) released its preliminary results for Q3 FY2018/19, ended 31 March 2019, swinging to net losses of EGP43mn versus net profits of EGP715mn in Q3 FY2017/18 and EGP289mn in Q2 FY2018/19. Revenues shrank by 19% y/y and 14% q/q to EGP2.92bn. Meanwhile, gross loss margin reached 4.0% against gross profit margin of 21.8% a year ago (3.8% in the prior quarter).
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