EARNINGS WATCH-

Abu Qir Fertilizers saw a 157.5% y-o-y increase in its net income after tax to EGP 9.05 bn in FY 2021-2022, according to the company’s financials (pdf). The company’s top line grew 84.8% y-o-y to EGP 16.33 bn during the fiscal year.

MARKET ROUNDUP-

The EGX30 rose 0.9% at today’s close on turnover of EGP 741 mn (9.7% below the 90-day average). Foreign investors were net sellers. The index is down 21.6% YTD.

In the green: Abu Dhabi Islamic Bank-Egypt (+4.3%), Egyptian Kuwaiti Holding-EGP (+4.2%) and Rameda (+3.8%).

In the red: Ibnsina Pharma (-1.7%), Credit Agricole Egypt (-1.5%) and Telecom Egypt (-1.3%).

Tags: