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GEMMA jumps 5%, gains most in 56 months

GEMMA jumps 5%, gains most in 56 months
Gemma
ECAP
3.04% 22.34 0.66
El Ezz Ceramic & Porcelain (GEMMA) stock has rallied shortly before the close of Sunday’s session, hitting its highest level in nearly 56 months.
The stock climbed 5.19% to EGP 6.6; its highest price since November, 2009.
Nearly 266.8 thousand shares in the company were exchanged at above EGP 1.7 million.
The company’s management has approved late in May a plan to boost production capacity.
The estimated investment cost for this plan stands a round EGP 47 million and expected to be implemented by mid-2014.
The company’s Q1-14 profit had netted EGP 13.7 million, compared with EGP 6.9 million net profit in the corresponding period last year.
Gemma had posted EGP 22.080 million net profit in FY13, rocketing 157% y/y from EGP 8.564 million.