EARNINGS WATCH-

Abu Qir Fertilizers saw its bottom line rise 294.6% y-o-y in 1Q 2022 to reach EGP 3.76 bn, according to the company’s financials (pdf). This comes on the back of increased sales during the quarter, recording a 155.5% y-o-y increase to EGP 5.80 bn.

Domty achieved a bottom line of EGP 50.37 mn in 1Q 2022, reversing from a net loss of EGP 3.43 mn in 1Q 2021, the cheese maker said in its financials (pdf). Domty’s sales during the quarter increased 73.3% y-o-y to EGP 1.12 bn.

MARKET ROUNDUP-

The EGX30 fell less than 0.1% at today’s close on turnover of EGP 540 mn (35.5% below the 90-day average). Foreign investors were net sellers. The index is down 16.4% YTD.

In the green: Madinet Nasr Housing and Development (+5.1%), Mopco (+2.3%) and Palm Hills Development (+1.8%).

In the red: Ibnsina Pharma (-2.8%), MM Group (-1.5%) and Cleopatra Hospitals (-1.3%).

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