EFIC Declines to Lowest Since 2006 After Posting 2010 Loss

Egyptian Financial & Industrial Co. (EFIC), the North African country’s biggest publicly-traded phosphate-based fertilizer producer, slumped to the lowest in more than four years after reporting an annual loss.

The shares plunged 7.4 percent to 12.95 pounds, the lowest since December 2006, at the 2:30 p.m. close in Cairo. That valued the company at 897.5 million pounds ($151 million).

The company reported a net loss of 8.1 million pounds in 2010 after a profit of 25.6 million pounds a year earlier.

To contact the reporter on this story: Claudia Maedler in Dubai at cmaedler@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.