By: Heba El-Kordy

Cairo – Mubasher: Egypt Aluminum’s stock, listed on the Egyptian Exchange (EGX), has fallen sharply over the past period in line with the announcement of the company’s budget scheme for 2019/2020 that included expected losses, in addition to postponing the approval of technical and financial offers for its solar power generation bid.

By 10:42 am Cairo time, the stock slid 0.1% to EGP 15.5, with a turnover of EGP 68,030.

It is worth noting that Egypt Aluminum’s stock plummeted by 12.16% since the beginning of the year with a turnover of EGP 276 million.

In March, the EGX-listed firm posted it may turn to losses of EGP 341.96 million in FY19/20, versus an estimated profit of EGP 601.36 million in FY18/19.

Translated by: Mai Ezz El-Din