Emirates Global Aluminium profit drops on weaker revenue
Emirates Global Aluminium said that its 2015 net profit decreased to AED1.9billion versus AED3.7billion a year ago. Revenue decreased to AED18.7 billion versus AED19.8 billion owing to a lower market price for aluminum. CEO Abdulla Kalban said that 2015 was a challenging year for the aluminum industry, largely due to global macro-economic uncertainty, growth slowdown in China, a stronger US dollar and falling oil prices. (Bloomberg)
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