The shares of the Sinai Cement Company, the runway and trading on the Egypt Stock Exchange, rose 19.98% during the trading today, to circulate at the price of 37.89 pounds per share, after announcing the annual financial statements.
The trading on the share of Sinai Cement at that time came through 1.1 million shares with a value of trading 39.9 million pounds.
The highest price for the share at that time was at 37.89 pounds per share, while the lowest price for the share was at 32.55 pounds per share.
The price of the Sinai Cement Company shares witnessed a remarkable increase, after the company’s financial statements announced last year, as the company turned from losses to profitability on an annual basis.
The company explained that it achieved a net profit of 3.07 billion pounds during the year 2024, compared to losses of 121.42 million pounds in the previous year, taking into account the rights of the minority.
The company’s sales increased during the past year to 6.42 billion pounds, compared to 4.28 billion pounds in 2023.
Regarding the unacceptable financial statements, the independent company made profits of 3.07 billion pounds, compared to losses of 117.58 million pounds in 2023.
As for the period from January to September 2024, the Sinai Cement recorded a net profit of 2.74 billion pounds, compared to losses of 121.45 million pounds in the same period last year, taking into account the rights of the minority.
The company’s sales increased during the first nine months of last year to 4.44 billion pounds, compared to 3.22 billion pounds in the same period in the previous year.
On the level of unacceptable lists, the independent company turned into profitability during the same period, as it achieved 2.74 billion pounds, compared to losses of 112.44 million pounds in the nine months of the corresponding of last year.
