EARNINGS WATCH- Madinet Nasr Housing & Development’s (MNHD) net profit grew 13.7% in 1Q2020 to reach EGP 378.1 mn, up from EGP 332.3 mn in the same period last year , according to an EGX disclosure (pdf). Revenues surged by 48% on an annual basis, reaching EGP 941.9 mn during the quarter from EGP 634.22 mn last year.

Arafa annual profits surge: Arafa Holding reported a five-fold increase in net profits during FY2019-2020, reaching USD 15.2 mn from USD 3.1 mn the year before, according to an EGXdisclosure. Arafa Holding’s fiscal year begins in February.

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