Oriental Weavers’ net income fell 22% y-o-y to EGP 944 mn in 2022, according to its earnings release (pdf). Revenues for the year rose 16.2% to EGP 13.3 bn. On a 4Q basis, net income jumped 44% y-o-y to EGP 360 mn, while revenues rose 25.3% to EGP 3.8 bn.

The EGX30 fell 0.7% at today’s close on turnover of EGP 1.90 bn (4.4% below the 90-day average). Local investors were net buyers. The index is up 17.1% YTD.

In the green: GB Auto (+3.6%), Rameda Pharma (+2.9%) and Credit Agricole Egypt (+2.1%).

In the red: Oriental Weavers (-2.9%), Abu Dhabi Islamic Bank (-2.7%) and CIB (-2.0%).

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