EARNINGS WATCH-

Emaar Misr’s bottom line rose around 118% y-o-y to EGP 4.12 bn in 2021, according to the company’s financials (pdf). Revenues increased 137% y-o-y, reaching EGP 11.08 bn.

MARKET ROUNDUP-

The EGX30 fell 2.8% at today’s close on turnover of EGP 1.29 bn (27.1% above the 90-day average). Local investors were net buyers. The index is down 13.0% YTD.

In the green: Orascom Construction (+1.2%), EFG Hermes (+1.1%) and ADIB Egypt (+0.1%).

In the red: MM Group (-8.6%), Heliopolis Housing (-5.5%) and CIB (-4.9%).

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