EARNINGS WATCH-

Sidi Kerir Petrochemicals’ net income after tax rose to EGP 1.21 bn in 1H 2023, rising 158% y-o-y, according to its earnings release (pdf). The company’s revenues for the period jumped 69.2% y-o-y to EGP 6.56 bn.

MARKET ROUNDUP-

The EGX30 was almost flat at today’s close on turnover of EGP 1.72 bn (11.5% below the trailing 90-day average). Regional investors were net sellers. The index is up 19.5% YTD.

In the green: Sidpec (+3.0%), Oriental Weavers (+2.1%), and Beltone Financial (+2.0%).

In the red: Eastern Company (-1.4%), Juhayna (-1.0%) and E-finance (-0.9%).

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