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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

EGA of UAE posts record net profit of $1.5bn for 2021

The company was founded in 2013, and it continues to be one of the world's largest producers of private label products by volume.
By TRENDS Desk
February 28, 2022 6:58 pm
  • The company's record earnings were attributed to a strong global aluminum market after economies recovered from COVID-19, as well as higher production, sales, and prices
  • “These record results show that our preparations for the next stage of our corporate journey are nearing completion,” Abdulnasser bin Kalban, CEO of EGA said

Emirates Global Aluminium, or EGA, has posted a 1,140 percent jump in net profit to $1.5 billion for 2021.

The company’s record earnings were attributed to a strong global aluminum market after economies recovered from COVID-19, as well as higher production, sales, and prices across the entire value chain of EGA in 2021.

The company’s revenue stood at 25.5 billion dirhams, compared to 18.7 billion dirhams in 2020.

“These record results show that our preparations for the next stage of our corporate journey are nearing completion,” Abdulnasser bin Kalban, CEO of EGA said.

As a result of its high performance, shareholders of EGA received dividend payments of 735 million dirhams in 2021.

The company was founded in 2013, and it continues to be one of the world’s largest producers of private label products by volume.

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