EARNINGS WATCH-

Talaat Moustafa Group reported around EGP 747.5 mn in net income in 1Q 2023, up about 32% y-o-y, according to an EGX disclosure (pdf). The company’s revenues during the quarter came in at roughly EGP 4.44 bn, about 47% up y-o-y.

Alexandria Container and Cargo Handling company reported EGP 3.2 bn in net income in 9M 2023, up 152% y-o-y, according to anEGX disclosure (pdf). The company recorded revenues of EGP 3.4 bn, up 85.4% y-o-y.

MARKET ROUNDUP-

The EGX30 rose 0.5% at today’s close on turnover of EGP 1.89 bn. Regional investors were net buyers. The index is up 17.4% YTD.

In the green: Edita (+11.3%), Abu Dhabi Islamic Bank (+7.5%) and Ibnsina Pharma (+5.2%).

In the red: Taaleem (-5.0%), Abu Qir Fertilizers (-1.6%) and Ezz Steel (-1.4%).

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