Alexandria Pharmaceuticals (AXPH) released its earnings report for the first half of the 2023/2024 Financial Year, showing a remarkable increase in net income of 88.91%. The company's net income reached EGP 137,824,000 compared to EGP 72,957,000 for the same period last year.
On the other hand, Eastern Tobacco (EAST) reported a decline in net profit after tax for the first half of the 2023/2024 Financial Year. The company recorded a decrease of 17% with a net profit of 2.896 billion, compared to 3.489 billion for the same period last year.
The Real Estate Sector Performs Strongly
The real estate sector stands out as the top performer today, with the majority of companies within the sector experiencing positive trends. Emaar Misr (EMFD) traded at the limit-up price during the session, reaching EGP 4.90 per share, representing a significant rise of 19.80% in a single trading session. Moreover, the stock achieved an impressive gain of 31.70% over two consecutive trading days. These figures are based on the closing prices of 04/02/2024. Currently, EMFD is trading at a -4.5% from its all-time high price of EGP 5.13 per share, a record set in April 2018.
Healthcare and Pharmaceuticals Show Green Performance
The healthcare and pharmaceutical sectors also exhibited positive performance, with 10th Of Ramadan For Medicine Industries (RMDA) leading the way. RMDA recorded a substantial increase of 17.90% at EGP 2.37 per share, trading near its 52-week high prices and all-time high prices.
Please note that the information provided is based on the data available as of the 4th of February 2024, at the closing prices.
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