Egypt.. AMOC shares rise 7.50% after announcing its annual financial results

The shares of Alexandria Mineral Oils Company (AMOC), listed on the Egyptian Stock Exchange, rose by 7.50% during Sunday’s trading session, closing at 8.30 pounds, following the company’s announcement of its annual business results.

During the session, 13.9 million shares of the company’s shares were traded, with a trading value of 113.04 million pounds, while the highest price per share was 8.35 pounds, while the lowest price was 7.73 pounds.

The share price of Alexandria Mineral Oils Company (AMOC) witnessed a noticeable increase despite the disclosure of the company’s consolidated financial results during the first half of the current fiscal year, and a decrease in profits by 2.6% compared to the same period of the previous fiscal year.

The company reported in an official statement published today on the Egyptian Stock Exchange that it achieved a net profit of 641.64 million pounds during the period from July to December 2024, compared to a net profit of 658.88 million pounds in the corresponding period of the previous fiscal year.

The company’s sales also witnessed a significant increase during the past six months, reaching 18.24 billion pounds, compared to 14.27 billion in the same period of the last fiscal year.

As for the unconsolidated financial statements, the company’s profits rose separately during the first half of the current year to 812.42 million pounds, compared to 782.03 million pounds in the same period of the previous fiscal year.

It is noteworthy that the Alexandria Mineral Oil Company (AMOC) recorded profits amounting to 479.07 million pounds during the period from July to September 2024, compared to profits amounting to 421.47 million pounds in the corresponding period of the last fiscal year, after calculating minority rights.

The company witnessed an increase in its sales volume during the first three months of the current year, reaching 8.88 billion pounds, compared to sales recorded at 7.04 billion pounds in the same period last year.

As for the independent financial results, the company recorded profits amounting to 352.53 million pounds in the first quarter of the current fiscal year, while profits in the corresponding period of the previous fiscal year were 350.77 million pounds.