Egypt.. “Egyptian Poultry” shares rose 0.44% after purchasing treasury shares

Egyptian Poultry shares, listed and traded on the Egyptian Stock Exchange, rose by 0.44% in midday trading on Wednesday to trade at 4.63 pounds per share, after purchasing treasury shares.

Trading in Egyptian Poultry shares at that time occurred through 22 trading transactions, with a trading value of 184.93 thousand pounds.

The highest share price at that time was 4.64 pounds per share, while the lowest share price was 4.56 pounds per share. The Egyptian Poultry Company carried out a process to acquire treasury shares during the trading session held last Monday, as the company announced that it had purchased about 355 thousand shares of treasury shares during that session.

The company had previously announced its intention to purchase up to 4.25 million treasury shares, which represents 10% of the company’s total shares, while financing this process through its own resources.

The company explained that its decision to purchase treasury shares aims to enhance the value of the stock in the Egyptian stock market.

It is worth noting that the Egyptian Poultry Company recorded net losses amounting to 4.92 million pounds during the period from January to September 2024, compared to losses amounting to 3.45 million pounds during the same period in 2023, after calculating minority rights.

The company’s revenues also witnessed a decline during the first nine months of the year, reaching 6.26 million pounds, compared to 6.54 million pounds during the same period of the previous year.

At the level of independent financial statements, the company’s losses increased to 6.94 million pounds during the period from January to last September, compared to losses amounting to 2.11 million pounds during the same period of the previous year.