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Read Full Issue EARNINGS WATCH-
CI Capital reported EGP 1.612 bn in group revenues in 1H 2022, a 36% y-o-y increase (after normalizing for one-off adjustments), while net operating profit rose 115% to reach EGP 567 mn, according to its earnings release (pdf). Net profit after tax and minority interest nearly doubled to EGP 341 mn against EGP 172 mn in the same period last year.
CLARIFICATION- The version of this earnings story that appeared in our email edition incorrectly used net profit before minority interest as the basis of our report. It has been amended to reflect CI Capital’s net profit after tax and minority, as is Enterprise’s standard for earnings coverage.
The EGX30 rose 1.8% at today’s close on turnover of EGP 1.54 bn (46.2% above the 90-day average). Foreign investors were net sellers. The index is down 13.9% YTD.
In the green: GB Auto (+9.5%), Madinet Nasr Housing (+9.2%) and Heliopolis Housing (+5.6%).
In the red: Credit Agricole Egypt (-0.5%).
