EARNINGS WATCH-

Amer Group ends 2022 in the red: Amer Group recorded EGP 195 mn in net losses in 2022, compared to a net income of EGP 83 mn in 2021, according to a bourse disclosure (pdf). The company’s real estate arm saw its revenues drop 47% y-o-y in 2022, while its topline fell 29% y-o-y to EGP 1.3 bn last year.

MARKET ROUNDUP-

The EGX30 fell 3.1% at today’s close on turnover of EGP 2.22 bn (8.3% above the 90-day average). Foreign investors were net sellers. The index is up 5.8% YTD.

In the green: e-Finance (+1.4%), Orascom Construction (+0.5%) and Edita (+0.4%).

In the red: Ibnsina Pharma (-11.1%), Palm Hills Development (-9.2%) and Credit Agricole Egypt (-8.5%).

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