Dubai: The UAE’s manufacturing powerhouse, EGA, drew record results in 2022, with revenues at Dh34.6 billion, a substantial 36 per cent increase. The firming up of metal prices during this period helped as did a significant pick up in demand from end-user markets.

That translated into a net profit of Dh7.4 billion, a gain by an equally impressive 34 per cent from Dh5.5 billion. The cash from operating activities came to Dh12.7 billion, an increase of 70 per cent.

These numbers come as speculation keeps mounting that EGA (Emirates Global Aluminium) could be the next blockbuster IPO from Abu Dhabi.

More to follow...