EARNINGS WATCH-

Orascom Development Egypt’s bottom line rose 5.8% y-oy in 1Q2022 to EGP 463.71 mn, according to the company’s financials (pdf). Revenues rose 32.3% y-o-y to EGP 1.93 bn.

MARKET ROUNDUP-

The EGX30 rose 0.3% at today’s close on turnover of EGP 644 mn (25.5% above the 90-day average). Local investors were net buyers. The index is down 12.4% YTD.

In the green: Ibnsina Pharma (+3.2%), Orascom Development Egypt (+2.0%) and MM Group (+1.5%).

In the red: Rameda (-1.8%), Fawry (-1.8%) and Elsewedy Electric (-1.5%).

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