EARNINGS WATCH- ‘Tis the season, folks, although we expect many companies will report their 3Q earnings only after coming home from the EFG Hermes London conference. Among those now out:

  • Real estate developer Palm Hills Developments reported an increase of 15.5% y-o-y in net profit after tax for 9M2017, which came in at EGP 467 bn, compared to EGP 404.3 bn last year. New sales for the period grew by 44% y-o-y to EGP 8.1 bn.
  • Real estate developer TMG reported nine month profits of EGP 1.058 bn on Thursday, a 72% rise from last year’s profit EGP 616.39 mn, according to an EGX disclosure. Revenues came in at EGP 5.6 bn for the first nine months, up from EGP 3.9 bn in the same period last year.
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