EARNINGS WATCH- Orascom Telecom Media and Technology (OTMT) reported a consolidated net profit of EGP 897.5 bn in 2016, a swing back to profitability after an EGP 3.61 bn net loss in the year before. OTMT’s operating revenues increased to EGP 538.4 mn in 2016 from EGP 291.4 mn a year earlier. The company says it recorded EGP 1.67 bn in FX gains that followed the EGP flotation as the company had foreign currency balances. The board has approved a dividend of EGP 0.10 per share, Reuters notes.

National Bank of Kuwait-Egypt recorded a net profit of EGP 329.5 mn in 1Q2017, up from EGP 186.6 mn during the same period last year.

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