MARKET NEWS-

Integrated Diagnostics Holding (IDH) began paying out dividends to its shareholders as scheduled today, the company said in a statement. Shareholders are getting dividend payments in the USD the equivalent of EGP 2.17 per share.

EARNINGS WATCH-

Cheesemaker Obourland saw its bottom line increase 21.6% y-o-y in 2Q2022 to EGP 90.23 mn, according to the company’s financial statements(pdf). The company’s sales revenues jumped 36.7% y-o-y to EGP 873.87 mn.

MARKET ROUNDUP-

The EGX30 fell 0.7% at today’s close on turnover of EGP 818 mn (1.2% below the 90-day average). Local investors were net sellers. The index is down 22.3% YTD.

In the green: Rameda (+2.1%), Ezz Steel (+1.4%) and e-Finance (+1.0%).

In the red: MM Group (-4.6%), Fawry (-4.0%) and GB Auto (-3.7%).

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