EARNINGS WATCH- Eastern Company reported a 13% rise in its bottom line in FY2020-2021, reporting earnings of EGP 4.3 bn, up from EGP 3.8 bn, according to the company’s earnings filing (pdf). The company recorded EGP 16 bn in revenues during FY2020-2021 from 14.5bn during FY2019-2020, up 11% compared to FY2019-2020.

MARKET NEWS- Emerald mini-IPO tomorrow: Trading on Odin Investments’ real estate investment firm Emerald on the Nilex will begin tomorrow, the EGX said in a statement (pdf).

MARKET WATCH-

The EGX30 rose 1.5% at today’s close on turnover of EGP 1.3 bn (13.1% below the 90-day average). Local investors were net buyers. The index is up 2.9% YTD.

In the green: Ezz Steel (+10.3%), Qalaa Holding (+6.4%) and Raya (+4.0%).

In the red: CIRA (-2.1%), Aspire Capital (-1.8%) and Eastern Company (-1.8%).

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