EARNINGS WATCH-

Abu Qir Fertilizers’ net income dipped to EGP 1.68 bn in 4Q 2022, down 19.5% y-o-y, according to the company’s earnings release ( pdf ). The company’s revenues dropped 0.7% y-o-y to EGP 4.3 bn during the quarter. On a full-year basis, Abu Qir reported EGP 14.6 bn in net income in FY 2022-23, up 61.7% y-o-y, while revenues climbed 32% y-o-y to EGP 21.6 bn.

Misr Fertilizer Production Company’s (Mopco) consolidated net income after tax rose 6% y-o-y to EGP 3.97 bn in 1H 2023, according to its financial statement (pdf ). Revenues climbed 8% y-o-y to EGP 9.42 bn during the first six months of the year.

MARKET ROUNDUP-

The EGX30 rose 0.23% at today’s close on turnover of EGP 2.7 bn (31.1% above the 90-day average). Local investors were net sellers. The index is up 27.6% YTD.

In the green: Elsewedy Electric (+6.9%), Qalaa Holding (+6.4%) and GB Corp (+3.7%).

In the red: Edita (-2.2%), ADIB (-2.0%) and Sidpec (-1.6%).

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