Cairo – Mubasher: Egyptian for Developing Building Materials (Lift Slab Misr) on Tuesday announced a 258.5% year-on-year rise in profits for the first half of 2017.

Profits soared to EGP 336,000 in H1-17, from EGP 93,700 a year ago, according to a statement to the Egyptian Exchange (EGX).

Operating revenues went up to EGP 2.7 million in H1-17, from EGP 2.25 million in the same period in the year before.

The EGX-listed company had previously reported EGP 39,400 in profit for fiscal year ended December 2016, against losses of EGP 1.4 million for FY15.

By 2:26 pm Cairo time, Lift Slab Misr's stock levelled down 2.31% to EGP 8.04.