EARNINGS WATCH-

Sinai Cement’s consolidated net losses narrowed to EGP 330.4 mn in 2022, from EGP 354 mn the year before, according to the company’s earnings release (pdf). The company’s total sales for the year rose 62.3% y-o-y to EGP 2.3 bn.

MARKET ROUNDUP-

The EGX30 rose 0.9% at today’s close on turnover of EGP 1.7 bn (16.7% below the 90-day average). Foreign investors were net sellers. The index is up 12.7% YTD.

In the green: Oriental Weavers (+4.8%), Egypt Kuwait Holding (+4.0%) and Alexandria Mineral Oils Company (+2.8%).

In the red: Juhayna (-2.7%), Edita (-2.7%) and CIRA Education (-2.4%).

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