The Egyptian Exchange (EGX) temporarily halted trading on Emaar Misr for Development (EMFD) for a duration of 10 minutes as significant surge of over 10% after the stock surged by over 10.56%, reaching EGP 5.13/share as of 12:27 CLT on the 14th of May, 2024 session. The surge was fueled by the release of EMFD's impressive earnings report, which revealed a remarkable 157% increase in net income. EMFD reported a net income of EGP 5.73 billion, demonstrating substantial growth compared to EGP 2.26 billion for the corresponding period last year.
Additionally, earnings per share for EMFD stood at EGP 1.25, marking a significant increase from EGP 0.47 per share reported in the same period last year.
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