EARNINGS WATCH-

Heliopolis Housing and development reported EGP 19.4 mn in net income in 1Q 2023, up 512.4% y-o-y, according to anEGX disclosure (pdf). The company’s revenues during the quarter came in at EGP 90.9 mn, up 43% y-o-y.

Sidi Kerir Petrochemicals’ net income more than doubled to EGP 520.1 mn in 1Q 2023, according to an EGXdisclosure(pdf). Revenues, meanwhile, climbed 71.4% y-o-y to EGP 3.6 bn during the quarter.

MARKET ROUNDUP-

The EGX30 rose 1.8% at today’s close on turnover of EGP 1.83 bn. Foreign investors were net sellers. The index is up 17.1% YTD.

In the green: Orascom Construction (+6.6%), Eastern Company (+6.5%) and Mopco (+5.2%).

In the red: Ibnsina Pharma (-5.3%), Taaleem Management Services, (-1.7%) and Juhayna (-1.7%).

Tags: