EARNINGS WATCH- Real estate company Heliopolis Housing’s net profit was up 42% in FY2018-2019 to EGP 376.4 mn from EGP 265.4 mn last year, it said in a statement on the EGX (pdf). The company’s revenues rose to EGP 1.1 bn during the year. Heliopolis is presently looking to sell a 10% stake in the company (with management rights) as part of an ongoing process.

Cheesemaker Obour Land recorded a net profit of EGP 113.3 mn in 3Q2019, up 73% y-o-y from EGP 65.6 mn during the same period last year, according to its earnings release (pdf). Revenues for the quarter rose to EGP 733.0 mn, up 15% y-o-y from 3Q2018. The company’s profits also rose 33% y-o-y during the first nine months of the year to EGP 240.6 mn, while 9M2019 revenues rose 9% y-o-y to EGP 1.9 bn.

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