Earnings Watch: Abu Qir Fertilizers, Credit Agricole

EARNINGS WATCH- Abu Qir Fertilizers’ net profits rose 32.4% y-o-y in 1H2018-19, which ended in December, to EGP 1.7 bn, the company announced in an EGX filing. Revenues were up 19.6% y-o-y, rising to EGP 5 bn. The figures come at a welcome as the company prepares to sell a 30% stake on the EGX possibly as early as March under the state privatization program.

Credit Agricole Egypt reported a 12.6% y-o-y increase in net profit after tax to EGP 2.20 bn in 2018, compared to EGP 1.96 bn in the same period last year, according to a filing to the EGX (pdf).