Alexandria Mineral Rises Most in Month After Net Almost Doubles
Alexandria Mineral Oils Co. (AMOC) surged the most in almost a month after the Egyptian petroleum products company said its fiscal year profit almost doubled.
The shares climbed 7.6 percent, the biggest intraday gain since June 14, to 68.99 Egyptian pounds at 12:28 p.m. in Cairo. That gave the company a market value of 5.94 billion pounds ($997 million). The benchmark EGX 30 Index (EGX30) fell 0.2 percent.
Net income for the year ended June 30 was 1.05 billion pounds compared with 557 million pounds a year earlier.
To contact the reporter on this story: Ahmed A Namatalla in Cairo at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.