{"id":564911,"date":"2021-03-07T13:49:51","date_gmt":"2021-03-07T13:49:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/"},"modified":"2021-03-07T13:49:51","modified_gmt":"2021-03-07T13:49:51","slug":"earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/","title":{"rendered":"Earnings Watch- Alex Medical, Emaar Misr see net profit declines in 2020"},"content":{"rendered":"<p><strong>The EGX30 rose 2.0% at today\u2019s close<\/strong> on turnover of EGP 954 mn (35.3% below the 90-day average). Foreign investors were net sellers. The index is up 6.6% YTD.<\/p>\n<p><strong>In the green: <\/strong>AMOC (+7.9%), Sidi Kerir (+6.5%) and Orascom Investment (+6.4%).<\/p>\n<p><strong>In the red: <\/strong>Edita (-1.2%), Eastern Co. (-0.2%) and EFG-Hermes (-0.1%).<\/p>\n<p><strong>EARNINGS WATCH- Alexandria New Medical Center\u2019s consolidated net profits were down 15.6% y-o-y to EGP <\/strong><strong>20.85 mn in FY2020<\/strong>, down from a EGP 24.71 mn in FY2019, according to the <a href=\"https:\/\/ent.news\/2021\/3\/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2-%D8%A7%D9%84%D8%B7%D8%A8%D9%89-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF-%D9%82%D9%88%D8%A7%D8%A6%D9%85-%D9%85%D8%A7%D9%84%D9%8A%D8%A9-31-12-2020.pdf\">company\u2019s financials (pdf)<\/a>. Revenues were up to EGP 225.4 mn, a 5.5% y-o-y increase from EGP 213.7 mn the year before. This comes as Alexandria New Medical\u2019s parent company Alexandria Medical Services has been <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/595bcf4f-5768-4a09-a61f-639c5b1649b4\">the target of a bidding war<\/a> by multiple firms. There\u2019s Saudi\u2019s Tawasol Holdings, which looks to be wanting to team up with Speed Medical to acquire 100% of the company. Alex Medical had received a competing offer from a consortium of Mabaret Al Asafra Hospitals and investment firm Tana Africa Capital back in January.<\/p>\n<p><strong>Emaar Misr\u2019s consolidated net profits decreased 3.4% y-o-y in FY2020 to EGP 1.67 bn,<\/strong> down from EGP 1.73 bn in FY2019, according to <a href=\"https:\/\/ent.news\/2021\/3\/119396_093337.pdf\">the company\u2019s financials (pdf)<\/a>. Revenues decreased to EGP 4.68 bn, down 17% y-o-y from 5.67 bn in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EGX30 rose 2.0% at today\u2019s close on turnover of EGP 954 mn (35.3% below the 90-day average). Foreign investors were net sellers. The index is up 6.6% YTD. In the green: AMOC (+7.9%), Sidi Kerir (+6.5%) and Orascom Investment (+6.4%). In the red: Edita (-1.2%), Eastern Co. (-0.2%) and EFG-Hermes (-0.1%). EARNINGS WATCH- Alexandria [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7219],"tags":[409,1527,633,642],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564911","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-earnings-watch","tag-emaar-misr","tag-enterprisepm","tag-go-with-the-flow","wpautop","entry"],"acf":{"mongo_id":"54043162-082e-4b59-baad-a69809dcfd16","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[564902],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Earnings Watch- Alex Medical, Emaar Misr see net profit declines in 2020 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/07\/earnings-watch-alex-medical-emaar-misr-see-net-profit-declines-in-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch- Alex Medical, Emaar Misr see net profit declines in 2020\" \/>\n<meta property=\"og:description\" content=\"The EGX30 rose 2.0% at today\u2019s close on turnover of EGP 954 mn (35.3% below the 90-day average). Foreign investors were net sellers. The index is up 6.6% YTD. In the green: AMOC (+7.9%), Sidi Kerir (+6.5%) and Orascom Investment (+6.4%). In the red: Edita (-1.2%), Eastern Co. (-0.2%) and EFG-Hermes (-0.1%). 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Foreign investors were net sellers. The index is up 6.6% YTD. In the green: AMOC (+7.9%), Sidi Kerir (+6.5%) and Orascom Investment (+6.4%). In the red: Edita (-1.2%), Eastern Co. (-0.2%) and EFG-Hermes (-0.1%). 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The jump came as revenues soared during the first quarter of the year to EGP\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":551146,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/29\/earnings-watch-mm-group-oriental-weavers-emaar-misr-report-1q2022-results\/","url_meta":{"origin":564911,"position":1},"title":"Earnings watch: MM Group, Oriental Weavers, Emaar Misr report 1Q2022 results","author":"enterpriseam admin","date":"29 May 2022","format":false,"excerpt":"EARNINGS WATCH-MM Group reported a 60.1% y-o-y drop in its 1Q2022 bottom line, recording EGP 51 mn, according to an earnings release (pdf). The company\u2019s consolidated revenues also fell 22.9% y-o-y during the quarter to hit EGP 1.94 bn.Oriental Weavers recorded EGP 260.06 mn in net income in 1Q2022, down\u2026","rel":"","context":"In &quot;GO WITH THE FLOW&quot;","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595788,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/06\/earnings-emaar-misr-turns-loss-of-egp-324-3-mn-in-3q2019\/","url_meta":{"origin":564911,"position":2},"title":"Earnings: Emaar Misr turns loss of EGP 324.3 mn in 3Q2019","author":"enterpriseam admin","date":"6 August 2019","format":false,"excerpt":"EARNINGS WATCH- Emaar Misr turned net losses of EGP 324.3 mn in 2Q2019, down from a net profit of EGP 598.5 mn in 2Q2018, according to the developer\u2019s earnings release (pdf). This came despite the company\u2019s revenues declining by only 3.4% y-o-y to EGP 890.8 mn from EGP 922.2 mn.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592785,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/06\/earnings-watch-cira-emaar-misr-americana-egypt-report-results\/","url_meta":{"origin":564911,"position":3},"title":"Earnings watch: CIRA, Emaar Misr, Americana Egypt report results","author":"enterpriseam admin","date":"6 November 2019","format":false,"excerpt":"EARNINGS WATCH- Cairo for Real Estate and Investment\u2019s (CIRA) net profit soared 75% y-o-y to EGP 221.1 mn in its fiscal year, which ended on 31 August 2019, according to the company\u2019s earnings release (pdf). Revenues rose 36% y-o-y during the fiscal year, coming in at EGP 704.7 mn. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573561,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/earnings-watch-emaar-misr-turns-a-profit-in-2q2020\/","url_meta":{"origin":564911,"position":4},"title":"Earnings watch: Emaar Misr turns a profit in 2Q2020","author":"enterpriseam admin","date":"10 August 2020","format":false,"excerpt":"EARNINGS WATCH- Emaar Misr recorded a net profit of EGP 366 mn 2Q2020, up from a net loss of EGP 324 mn in the same period last year, according to the company\u2019s quarterly financial statements (pdf). This came despite revenue falling 13% to EGP 771 mn during the quarter. Net\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597830,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/06\/earnings-watch-cib-emaar-misr-report-1q2019-results\/","url_meta":{"origin":564911,"position":5},"title":"Earnings watch: CIB, Emaar Misr report 1Q2019 results","author":"enterpriseam admin","date":"6 May 2019","format":false,"excerpt":"EARNINGS WATCH- Our friends at CIB delivered a 31% y-o-y increase in net income of EGP 2.64 bn in 1Q2019 on revenues of EGP 5.60 bn, which rose 35% y-o-y. CIB recorded a capital adequacy ratio of 21.5% by the end of the quarter, which is above the minimum regulatory\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=564911"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564911\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564902"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564911"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564911"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}