Emirates Global Aluminium Sees Profit Soar Ahead of Possible IPO
- ‘We are bullish about prices,’ says chief financial officer
- Co-owner Mubadala has said it’s close to a listing of EGA
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Emirates Global Aluminium PJSC, the Middle East’s biggest producer of the metal, posted a record profit in the first half of the year as prices soared along with those of other commodities.
The company, whose United Arab Emirates-based shareholders are considering an initial public offering, generated income of 1.74 billion dirhams ($473 million), after a loss of $57 million a year earlier. Core earnings were $950 million.