EARNINGS WATCH-

Arab Dairy saw their bottom line fall 61.9% y-o-y in 1Q2022 to EGP 3.19 mn, according to their financials (pdf). The Panda cheese makers also saw their sales decline 23.6% y-o-y during the quarter to EGP 292.8 mn.

MARKET ROUNDUP-

The EGX30 fell 0.1% at today’s close on turnover of EGP 813 mn (3.2% above the 90-day average). Foreign investors were net sellers. The index is down 16.6% YTD.

In the green: Madinet Nasr Housing (+7.3%), Qalaa Holdings (+4.2%) and Heliopolis Housing (+3.5%).

In the red: Cleopatra Hospitals (-4.8%), EFG Hermes (-2.2%) and Eastern Company (-2.0%).

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