EARNINGS WATCH-

Arabian Cement returned to the black in 1Q2022, with its bottom line recording EGP 58.85 mn during the quarter compared to net losses of EGP 6.33 mn in 1Q2021, according to the company’s financials (pdf). The company’s sales rose 145% y-o-y to EGP 1.06 bn in 1Q2022.

MARKET ROUNDUP-

The EGX30 fell 0.8% at today’s close on turnover of EGP 364 mn (57.8% below the 90-day average). Regional investors were net sellers. The index is down 12.4% YTD.

In the green: EFG Hermes (+0.6%), Ibnsina Pharma (+0.4%) and Qalaa Holdings (+0.2%).

In the red: Orascom Construction (-4.0%), Cleopatra Hospitals (-3.3%) and Abu Qir Fertilizers (-2.3%).

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