MARKET NEWS-

Elsewedy Electric is paying out dividends of EGP 0.40 per share on its FY 2022-23 earnings, payable on 21 May, the company said in an EGX disclosure (pdf).

EARNINGS WATCH-

Sidi Kerir Petrochemicals Company reported net income after tax of EGP 520 mn in 1Q2023, up 107.2% y-o-y, the company said in anEGX disclosure (pdf). The company recorded EGP 3.6 bn in revenues during the first quarter, up 71.4% y-o-y.

MARKET ROUNDUP-

The EGX30 fell 0.3% at today’s close on turnover of EGP 1.68 bn. Regional investors were net buyers. The index is up 18.5% YTD.

In the green: Ibnsina Pharma (+6.4%), Taaleem (+3.2%) and Sidi Kerir Petrochemicals (+1.9%).

In the red: e-Finance (-2.3%), Oriental Weavers (-2.1%) and Orascom Construction (-2.1%).

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