EARNINGS WATCH-

Alexandria Mineral Oils’ net income rose 146% y-o-y in FY 2021-2022 to record EGP 1.23 bn, according to its financials (pdf). The company’s revenues jumped 81% y-o-y to EGP 18.44 bn during the fiscal year.

The EGX30 rose 1.0% at today’s close on turnover of EGP 649.29 mn (20.3% below the 90-day average). Local investors were net buyers. The index is down 20.77% YTD.

In the green: Heliopolis Housing (+3.4%), EFG Hermes (+3.3%) and Ibnsina Pharma (+2.5%).

In the red: Rameda (-2.8%), GB Auto (-2.1%) and ADIB Egypt (-1.8%).

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