Egypt.. “Lift Slab” stock rises to its highest price in 3 years

The shares of the Egyptian Company for the Development of the Construction Industry (Lift Slab), listed on the Egyptian Stock Exchange, rose by 20% during Sunday’s trading session, trading at a price of 0.60 pounds per share, which is its highest price in 3 years and 25 days.

123.99 million shares of the Egyptian Company for the Development of the Construction Industry “Lift Slab” were traded at that time, with a trading value of 71.89 million pounds.

The highest price at that time was 0.60 pounds per share, while the lowest price was 0.53 pounds per share.

In another context, the financial statements of the Egyptian Company for the Development of the Construction Industry (Lift Slab Egypt) for the period extending from January to September 2024 showed a significant increase in losses amounting to 1,719% compared to the same period of the previous year.

The company reported in a disclosure to the Egyptian Stock Exchange that it had achieved losses worth 47.3 million pounds during the first nine months of 2024, while losses in the corresponding period of 2023 were estimated at only 2.59 million pounds.

The Egyptian Construction Industry Development Company (known as Lift Slab Egypt) is one of the joint stock companies listed on the Egyptian Stock Exchange since August 1999. The company operates in the field of capital goods, with a special focus on the construction and engineering sectors.