AMOC Jumps to Highest in 2 Months After Profit Almost Doubles
Alexandria Mineral Oils Co. (AMOC) climbed to the highest level in almost two months after the Egyptian petroleum-products producer said first fiscal-quarter profit almost doubled.
Shares of the Alexandria, Egypt-based company rose 3.1 percent to 67.5 Egyptian pounds at 10:47 a.m. in Cairo, the highest intraday level since Aug. 25. The benchmark EGX 30 Index (EGX30) gained 1 percent.
Net income for the three-months that ended Sept. 30 was 385.3 million Egyptian pounds ($64 million) compared with 205.5 million pounds a year earlier, the company said in a filing to the Egyptian bourse today.
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