EARNINGS WATCH-

Gadwa Industrial Development achieved a bottom line of EGP 115.19 mn in 4Q2021, according to the company’s financials (pdf). The company was founded in October. Gadwa’s revenues during the period reached EGP 230.65 mn.

Pioneers Properties recorded a bottom line of EGP 298.41 mn in 4Q2021 — the three-month period since its founding, according to the company’s financials (pdf). The company’s revenues reached EGP 1.60 bn during the period.

MARKET ROUNDUP-

The EGX30 rose 1.4% at today’s close on turnover of EGP 949 mn (2.4% below the 90-day average). Foreign investors were net sellers. The index is down 4.7% YTD.

In the green: Orascom Construction (+7.1%), CIRA (+7.1%) and Fawry (+5.4%).

In the red: GB Auto (-7.4%), Credit Agricole Egypt (-1.8%) and Palm Hills Development (-1.0%).

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