DUBAI, March 16 (Reuters) - Emirates World Aluminium (EGA) of the United Arab Emira
DUBAI, March 16 (Reuters) – Emirates World Aluminium (EGA) of the United Arab Emirates on Tuesday reported a 63% enhance in annual adjusted earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA).
The Abu Dhabi and Dubai jointly-owned firm stated EBITDA elevated to 4.1 billion dirham ($1.13 billion), whereas income fell 9% to 18.7 billion which it stated was as a consequence of decrease costs and a drop in demand for “worth added merchandise.”
Chief Govt Abdulnasser bin Kalban stated EGA anticipated benchmark aluminium costs to stay round $2,000 this 12 months.
EGA is equally owned by state funds the Funding Company of Dubai and Abu Mubadala Funding Firm of Abu Dhabi.
($1 = 3.6728 UAE dirham)
(Reporting by Yousef Saba, writing by Alexander Cornwell; Modifying by Kim Coghill)
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