{"id":566199,"date":"2021-06-02T13:50:34","date_gmt":"2021-06-02T13:50:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/"},"modified":"2021-06-02T13:50:34","modified_gmt":"2021-06-02T13:50:34","slug":"idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/","title":{"rendered":"IDH reports surge in 1Q2021, drive by covid tests + OIH sells down Beltone stake"},"content":{"rendered":"<p><strong>The EGX30 fell 1.2% at today\u2019s close<\/strong> on turnover of EGP 1.69 bn (23.1% above the 90-day average). Local investors were net buyers. The index is down 6.7% YTD.<\/p>\n<p><strong>In the green: <\/strong>Ibnsina Pharma (+3.8%), Emaar Misr (+1.4%) and Edita (+0.8%).<\/p>\n<p><strong>In the red: <\/strong>Cleopatra Hospital (-4.1%), Talaat Moustafa Group Holding (-3.0%) and Orascom Financial Holding (-2.9%).<\/p>\n<hr class=\"grey-line\">\n<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>EARNINGS WATCH- Integrated Diagnostics Holding\u2019s (IDH) net income soared 230% <\/strong><strong>y-o-y in 1Q2021 <\/strong>to EGP 339 mn, according to the company\u2019s <a href=\"https:\/\/s3.amazonaws.com\/resources.inktankir.com\/idh\/IDH-1Q2021-Earnings-Release-E-FINAL.pdf\">quarterly earnings filing (pdf)<\/a>. Strong bottomline growth came on the heels of a 126% increase in revenues, which reached EGP 1.13 bn in 1Q2021, and was built on momentum generated during 2H2020 and an explosion in the demand for covid-19 testing offered by the diagnostics giant. Growth was spurred by record levels of covid-19 tests and was \u201cboth volume- and price-driven,\u201d the company said.<\/p>\n<p><strong>The earnings are the first the consumer healthcare giant has released <\/strong>since listing on the EGX in the country\u2019s first-ever technical listing.<\/p>\n<p><strong>Looking ahead, volume growth will be helped by a \u201cmulti-pronged expansion strategy,\u201d <\/strong>which targets widening IDH\u2019s medical service offering, expanding its geographical reach, and strengthening its digital offering and delivery capabilities, IDH CEO Hend El Sherbini said. IDH\u2019s \u201cimmediate focus remains on continuing to play a frontline role in helping governments across our footprint combat the ongoing Covid-19 pandemic,\u201d she added. \u201cOur priorities for the remainder of 2021 and beyond remain unchanged as we focus on driving new growth and delivering further value to our patients.\u201d We had more on IDH\u2019s future plans in <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/26229540-e0c1-45e5-b5e8-0b808a179371\">yesterday\u2019s EnterprisePM<\/a>.<\/p>\n<p><strong>MARKET NEWS-<\/strong><\/p>\n<p><strong>Orascom Financial Holding (OFH) <\/strong><strong>has sold down part of its stake in<\/strong><strong> Beltone Financial in <\/strong><strong>an EGP 71.55 mn transaction.<\/strong> OFH\u2019s total holding of the investment bank is now 70.1%, down from 74%, according to <a href=\"https:\/\/ent.news\/2021\/6\/beltone-share-sale-2-june-21.pdf\">an EGX disclosure (pdf).<\/a> Beltone Securities executed the transaction, which saw 20 mn shares sold on the open market at a price of EGP 3.58 apiece.<\/p>\n<p><strong>Nile Cotton makes good with minority shareholders: <\/strong>Nile Cotton Ginning <a href=\"https:\/\/ent.news\/2021\/6\/Nile-Cotton-share-purchases-02-06-21.jpg\">has bought back<\/a> stock that was held by shareholders who claimed to have been negatively affected by a recent board decision to delist from the EGX. The vote to delist came after IMEX International took the state-owned company private when it completed its acquisition of a 93.9% stake <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b833b625-9bb8-44a1-841e-d536d4dbeb68\">last October<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The EGX30 fell 1.2% at today\u2019s close on turnover of EGP 1.69 bn (23.1% above the 90-day average). Local investors were net buyers. The index is down 6.7% YTD. In the green: Ibnsina Pharma (+3.8%), Emaar Misr (+1.4%) and Edita (+0.8%). In the red: Cleopatra Hospital (-4.1%), Talaat Moustafa Group Holding (-3.0%) and Orascom Financial [&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":[107,409,633,642,7115,1406,125,4241,618],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566199","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-covid-19","tag-earnings-watch","tag-enterprisepm","tag-go-with-the-flow","tag-healthcare","tag-integrated-diagnostics-holding","tag-investment-watch","tag-nile-cotton-ginning","tag-orascom-investment-holding","wpautop","entry"],"acf":{"mongo_id":"dcc76677-11ba-4e4b-8d3f-3403cf11750f","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[566189],"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>IDH reports surge in 1Q2021, drive by covid tests + OIH sells down Beltone stake - 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\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDH reports surge in 1Q2021, drive by covid tests + OIH sells down Beltone stake\" \/>\n<meta property=\"og:description\" content=\"The EGX30 fell 1.2% at today\u2019s close on turnover of EGP 1.69 bn (23.1% above the 90-day average). Local investors were net buyers. The index is down 6.7% YTD. In the green: Ibnsina Pharma (+3.8%), Emaar Misr (+1.4%) and Edita (+0.8%). In the red: Cleopatra Hospital (-4.1%), Talaat Moustafa Group Holding (-3.0%) and Orascom Financial [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-02T13:50:34+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IDH reports surge in 1Q2021, drive by covid tests + OIH sells down Beltone stake\",\"datePublished\":\"2021-06-02T13:50:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\"},\"wordCount\":388,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"covid-19\",\"earnings watch\",\"EnterprisePM\",\"Go with the Flow\",\"healthcare\",\"Integrated Diagnostics Holding\",\"investment watch\",\"Nile Cotton Ginning\",\"Orascom Investment Holding\"],\"articleSection\":[\"GO WITH THE FLOW\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/idh-reports-surge-in-1q2021-drive-by-covid-tests-oih-sells-down-beltone-stake\/\",\"name\":\"IDH reports surge in 1Q2021, drive by covid tests + OIH sells down Beltone stake - 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Revenues jumped 30% to EGP 1.3 bn from EGP 965 mn in\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":566689,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/oih-dice-report-1q2021-earnings\/","url_meta":{"origin":566199,"position":1},"title":"OIH, Dice report 1Q2021 earnings","author":"enterpriseam admin","date":"7 July 2021","format":false,"excerpt":"EARNINGS WATCH- Orascom Investment Holding (OIH) reported net losses of EGP 31 mn in 1Q2021, compared to a net income of EGP 51.6 mn in the same quarter last year, according to its consolidated financials (pdf). Operating revenues were up to EGP 206.6 mn during the quarter from EGP 179.4\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":547132,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/09\/earnings-watch-idh\/","url_meta":{"origin":566199,"position":2},"title":"Earnings watch: IDH","author":"enterpriseam admin","date":"9 June 2022","format":false,"excerpt":"Integrated Diagnostics Holding (IDH) saw its bottom line fall 8% y-o-y in 1Q 2022 due to rising sales costs, according to its latest earnings release (pdf). The medical diagnostics company reported net income of EGP 314 mn during the quarter, down from EGP 342 mn in 1Q2021.Meanwhile, revenues rose 5%\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","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":640650,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/29\/integrated-diagnostics-holdings-orascom-construction-report-earnings\/","url_meta":{"origin":566199,"position":3},"title":"Integrated Diagnostics Holdings, Orascom Construction report earnings","author":"enterpriseam admin","date":"29 August 2024","format":false,"excerpt":"Integrated Diagnostics Holding\u2019s income was up over 80% y-o-y, while revenues rose nearly 40% in 2Q 2024","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":605565,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/03\/idh-reports-1h-2023-financials-as-it-continues-post-covid-transition\/","url_meta":{"origin":566199,"position":4},"title":"IDH reports 1H 2023 financials as it continues post-covid transition","author":"enterpriseam admin","date":"3 September 2023","format":false,"excerpt":"Revenues from non-covid-related tests climbed 40% during the period, partially offsetting the fall in covid income","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/65.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566328,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/13\/earnings-emaar-misr-alex-medical-more-than-double-net-income-in-1q2021\/","url_meta":{"origin":566199,"position":5},"title":"Earnings: Emaar Misr, Alex Medical more than double net income in 1Q2021","author":"enterpriseam admin","date":"13 June 2021","format":false,"excerpt":"EARNINGS WATCH- Emaar Misr\u2019s consolidated net income more than doubled in 1Q2021 to EGP 529.1 mn, up from EGP 247.6 mn in the same quarter last year, according to the real estate developer\u2019s financials (pdf). 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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566199","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=566199"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566199\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566189"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566199"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566199"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}