{"id":565563,"date":"2021-04-15T13:00:40","date_gmt":"2021-04-15T13:00:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/15\/earnings-watch-cira\/"},"modified":"2021-04-15T13:00:40","modified_gmt":"2021-04-15T13:00:40","slug":"earnings-watch-cira","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/15\/earnings-watch-cira\/","title":{"rendered":"Earnings watch: CIRA"},"content":{"rendered":"

The EGX30 rose 0.3% at today\u2019s close<\/strong> on turnover of EGP 899 mn (33.9% below the 90-day average). Regional investors were net buyers. The index is down 6.5% YTD.<\/p>\n

In the green: <\/strong>Eastern Co. (+2.9%), CIB (+1.7%) and Export Development Bank (+1.4%).<\/p>\n

In the red: <\/strong>TMG Holding (-3.0%), AMOC (-2.8%) and MM Group (-2.7%).<\/p>\n

<\/a> Private sector education outfit CIRA\u2019s net profits grew 12% y-o-y to EGP 249.9 mn<\/strong> in the <\/strong>first half of their 2020-2021 fiscal year<\/strong>, which begins in September, according to the company\u2019s earnings release (pdf)<\/a>. Revenues rose 14% y-o-y to EGP 758.8 mn, the bulk of which came from tuition revenues, up 21% y-o-y. Top line growth was driven by an uptick in enrollment in both segments, with K-12 enrollment up 5% y-o-y, and university enrollment up 26% following the inauguration of additional faculties at its Badr University Cairo.<\/p>\n

During the half, CIRA announced a partnership with Beltone Consumer Finance, <\/strong>that will provide an alternative financing method by allowing the repayment of tuition fees over 12 equal monthly installments with minimal documentation required and instant approval. The financing method will be rolled out at seven schools in pilot phase, CEO Mohamed El Kalla said.<\/p>\n

Looking ahead: <\/strong>Construction is underway on CIRA\u2019s British Columbia Canadian International School and Saxony International School in O West, and a new Futures Language School in Sohag. Campus activities at Badr University in Assiut are expected to begin by the end of September 2021, El Kalla added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The EGX30 rose 0.3% at today\u2019s close on turnover of EGP 899 mn (33.9% below the 90-day average). Regional investors were net buyers. The index is down 6.5% YTD. In the green: Eastern Co. (+2.9%), CIB (+1.7%) and Export Development Bank (+1.4%). In the red: TMG Holding (-3.0%), AMOC (-2.8%) and MM Group (-2.7%). Private […]<\/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":[402,633,642,619],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565563","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-cira-education","tag-enterprisepm","tag-go-with-the-flow","tag-mohamed-el-kalla","wpautop","entry"],"acf":{"mongo_id":"b3548a93-acd2-41d5-9e03-d2e6548221b5","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[565555],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: CIRA - 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\/04\/15\/earnings-watch-cira\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: CIRA\" \/>\n<meta property=\"og:description\" content=\"The EGX30 rose 0.3% at today\u2019s close on turnover of EGP 899 mn (33.9% below the 90-day average). Regional investors were net buyers. The index is down 6.5% YTD. In the green: Eastern Co. (+2.9%), CIB (+1.7%) and Export Development Bank (+1.4%). In the red: TMG Holding (-3.0%), AMOC (-2.8%) and MM Group (-2.7%). 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Revenues rose 18% y-o-y to EGP 370 mn, the bulk of which came from tuition\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":579166,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/29\/cira-sees-higher-revenues-in-1q-2022-2023-but-rising-rates-hit-net-income\/","url_meta":{"origin":565563,"position":3},"title":"CIRA sees higher revenues in 1Q 2022-2023 but rising rates hit net income","author":"enterpriseam admin","date":"29 January 2023","format":false,"excerpt":"CIRA Education reports higher revenues, lower bottomline in 1Q 2022-2023: EGX-listed education services provider CIRA Education reported EGP 104.7 mn in adjusted net income in 1Q 2022-2023, down 3% y-o-y, according to the company\u2019s earningsrelease(pdf). 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