EARNINGS WATCH-

MM Group’s bottom line rose 1.3% y-o-y to EGP 375.46 mn in 2021, according to the company’s financials (pdf). Total sales hit EGP 9.00 bn in 2021, up 3.7% y-o-y.

MARKET ROUNDUP-

The EGX30 fell 1.4% at today’s close on turnover of EGP 751 mn (22.7% below the 90-day average). Foreign investors were net sellers. The index is down 5.9% YTD.

In the green: Qalaa Holdings (+1.4%), Orascom Construction (+1.3%) and Oriental Weavers (+1.3%).

In the red: GB Auto (-3.8%), Rameda (-3.1%) and MM Group (-2.6%).

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