EARNINGS WATCH-

Raya Holding’s net income after minority interest rose 46% y-o-y to EGP 144 mn in 2Q 2023, according to the company’s earnin gs release (p df ). Revenues grew 71% y-o-y during the quarter to EGP 7.97 bn. The company attributed the growth in its topline primarily to its trade business unit, which accounted for 43% of earnings, followed by the IT unit, the fintech NBFS unit and Raya CX. Raya’s net income rose 99.3% y-o-y in 1H 2023 to EGP 14.5 bn.

Alexandria Container and Cargo Handling reported EGP 4.3 bn in net income after taxes in 1H 2023, up 110.2% y-o-y, according to the company’s earnings release (pdf). Revenues climbed 69.2% y-o-y to EGP 4.8 bn during the same period.

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MARKET ROUNDUP-

The EGX30 rose 0.4% at today’s close on turnover of EGP 1.6 bn (21.2% below the 90-day average). Regional investors were net buyers. The index is up 23.5% YTD.

In the green: TMG Holding (+3.3%), Eastern Company (+2.9%) and Beltone Financial Holding (+2.3%).

In the red: Mopco (-1.2%), B Investments Holding (-1.2%) and Elsewedy Electric (-1.0%).

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