Egypt Aluminum expects 2006/7 profit of $140 mln

Egypt Aluminum , the country's only primary producer of aluminum, expects to make profits of LE 800 million ($140 million) in the financial year ending June 30, the stock exchange said.

Egypt Aluminum sent the stock exchange the forecast in response to media reports on the expected profit, it said.

In the financial year 2005/6, the aluminum company made net profit of LE 675.8 million.

In June last year the government postponed indefinitely an initial public offering of 17 percent of the firm because there was not enough investor demand.