Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

EFIC Drops to Lowest in More Than One Month as Profit Declines

Nov. 21 (Bloomberg) -- Egyptian Financial & Industrial Co., the Arab country’s biggest publicly traded phosphate-based fertilizer producer, dropped to the lowest in more than a month after its nine-month profit declined.

Shares of the Cairo-based company plunged 5.1 percent to 9.50 Egyptian pounds at 1:12 p.m. in Cairo, the lowest intraday level since Oct. 11. The stock has retreated 50 percent this year. The benchmark EGX 30 Index lost 2.8 percent today.

Net income for the period that ended Sept. 30 fell 27 percent to 43.8 million Egyptian pounds ($7.3 million) from a year earlier, the Gharbaya, Egypt-based company said yesterday after the market closed.

To contact the reporter on this story: Ahmed A Namatalla in Cairo at anamatalla@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.