Valu’s net income rises 35% to EGP 731 mn in 9M 2026

Here are the stories driving the day, both at home and abroad. Valu’s net income rose 35% y-o-y to EGP 731 mn in 9M 2026, while its gross revenue increased 36% to EGP 5.33 bn, according to the company’s latest earnings release. Net revenue grew faster, up 53% to EGP 3.08 bn on merchant network growth, securitization gains, and interest income. However, net income trailed it by 18 percentage points, as new products, including El Gameya, and the expansion into Jordan weigh on near-term results.

MEANWHILE- Moving the state’s oil and gas companies from temporary listing to an actual offering could take six to nine months at best, or up to 18 months, depending on each company’s readiness and assets, Al Borsa reports, citing State-Owned Companies Unit head Hashem El Sayed. Companies have to close their books, hire advisers, and clear valuations that run four to five months where there’s real estate or mining assets to appraise, while others in the pipeline are still waiting on approvals from the Sinai Development Authority, he says.

^^We’ll have more on these stories in tomorrow’s edition of EnterpriseAM.

☀️ TOMORROW’S WEATHER- We’re in for a warm fall day in the capital tomorrow as temperatures climb to a high of 27°C before dropping to an overnight low of 17°C, according to our favorite weather app.

MAKING HEADLINES ABROAD-

It’s a relatively quiet Sunday on the international front. Here are the latest developments: Bahrain said it intercepted six drones sent by Iran’s Islamic Revolutionary Guard Corps (IRGC) this morning, prompting Bahrain’s first threat alert to the public since September. The IRGC was targeting a US military base in the Gulf state, in response to what it described as “hostile US actions,” reporting “successful precision strikes” despite Bahrain’s interception. This comes amid a stalemate in the US-Iran negotiations to end the war and a stand-off over the Strait of Hormuz.

MEANWHILE- Singapore-based cloud computing company and Nvidia business partner Megaspeed said today that former executive Alice Huang officially left the company in August 2025 and that it launched an internal investigation into its business operations and supply chain controls. Meanwhile, US lawmakers are ramping up efforts to curb advanced AI chips reaching China amid the Jensen Huang affair and espionage controversy.