EARNINGS WATCH-

Amer Group’s bottom line fell 81.2% y-o-y in 1Q2022 to EGP 39.44 mn, according to the company’s financials (pdf). Revenues also fell during the quarter, recording EGP 618.15 mn, a nearly 40% y-o-y decline.

MARKET ROUNDUP-

The EGX30 rose 0.5% at today’s close on turnover of EGP 586 mn (31.4% below the 90-day average). Regional investors were net buyers. The index is down 12.0% YTD.

In the green: Madinet Nasr Housing (+2.7%), Mopco (+1.9%) and Housing and Development Bank (+1.9%).

In the red: GB Auto (-2.8%), Fawry (-2.3%) and Ezz Steel (-1.6%).

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