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Egypt Stocks: Arab Cotton Ginning, Egyptian Resorts Co.

July 3 (Bloomberg) -- Egypt’s benchmark EGX30 Index climbed 0.9 percent to 5,418.69 at the 2:30 p.m. close in Cairo.

The following shares rose or fell in Cairo. Symbols are in parentheses.

Arab Cotton Ginning (ACGC) advanced to the highest level since Jan. 17, increasing 4.4 percent to 4.26 Egyptian pounds. The company, which is involved in the production and trading of cotton and related products, said nine-month profit more than doubled to 81.7 million Egyptian pounds ($13.7 million) from 36.1 million pounds a year earlier.

Advanced Pharmaceutical Packaging Co. (APPC EY) dropped the most since June 13, falling 1.7 percent to 28.27 pounds. The company will pay a cash dividend of 1 Egyptian pound a share by Aug. 7 and 2.8 pounds a share by Feb. 28, 2012. The company said last year it would pay a dividend of 4.2 pounds.

Egyptian Resorts Co. (EGTS EY) rose the most in a week, climbing 4.2 percent to 1.24 pounds. A lawyer who is suing the Egyptian government for selling land to the Red Sea developer in 1995 said the court hearing has been postponed to Sept. 12.

To contact the reporter on this story: Alaa Shahine in Dubai at asalha@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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