Arabian Cement’s net income grew more than tenfold y-o-y to EGP 359 mn in 2022, according to a disclosure(pdf). Revenues for the year, meanwhile, rose 91% y-o-y to EGP 4.7 bn.

The EGX30 rose 1.35% at today’s close on turnover of EGP 1.43 bn (27.8% below the 90-day average). Regional investors were net buyers. The index is up 16.5% YTD.

In the green: Egypt Kuwait Holding - EGP (+5.0%), Ezz Steel (+4.2%) and Sidi Kerir Petrochemicals (+4.0%).

In the red: EFG Hermes (-1.3%), ADIB - Egypt (-1.1%) and Fawry (-1.1%).

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