MARKET NEWS-

Obour Land recorded a 13% y-o-y increase in its bottom line in 2021 to EGP 350.7 mn, according to the company’s financials (pdf). Obour Land’s revenues increased 10% y-o-y to EGP 3 bn in 2021.

Alexandria Container and Cargo Handling’s bottom line rose 14.8% y-o-y in the first half of FY2021-22 to EGP 717.8 mn, according to a bourse filing (pdf). The company’s revenues increased 2% y-o-y to EGP 1.1 bn during the period.

MARKET ROUNDUP-

The EGX30 fell 0.4% at today’s close on turnover of EGP 446 mn (60.2% below the 90-day average). Regional investors were net buyers. The index is down 4.1% YTD.

In the green: Ezz Steel (+1.1%), AMOC (+0.8%) and Orascom Development Egypt (+0.8%).

In the red: TMG Holding (-3.2%), Pioneers Properties (-2.4%) and GB Auto (-2.3%).

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