MARKET NEWS-

Sidi Kerir Petrochemicals’ bottom line rose 1,958% y-o-y in 2021 to EGP 535 mn, according to the company’s financials (pdf). Revenues also rose 48% during the year to EGP 5.1 bn. The petrochem company attributed its performance to the stabilization of local and global markets and Sidi Kerir’s efforts to control costs and increase its selling price, the company said in a disclosure (pdf).

MARKET ROUNDUP-

The EGX30 fell 0.3% at today’s close on turnover of EGP 934 mn (17.8% below the 90-day average). Regional investors were net buyers. The index is down 2.8% YTD.

In the green: EFG Hermes (+1.1%), MM Group (+1.1%) and Eastern Company (+1.0%).

In the red: Cleopatra Hospital (-3.8%), Speed Medical (-3.3%) and Raya Holding (-2.8%).

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