{"id":566351,"date":"2021-06-14T13:44:51","date_gmt":"2021-06-14T13:44:51","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/pioneers-arab-dairy-report-higher-net-income-in-1q2021-kabo-narrows-losses\/"},"modified":"2021-06-14T13:44:51","modified_gmt":"2021-06-14T13:44:51","slug":"pioneers-arab-dairy-report-higher-net-income-in-1q2021-kabo-narrows-losses","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/pioneers-arab-dairy-report-higher-net-income-in-1q2021-kabo-narrows-losses\/","title":{"rendered":"Pioneers, Arab Dairy report higher net income in 1Q2021, Kabo narrows losses"},"content":{"rendered":"

EARNINGS WATCH- Pioneers Holding net income inched up to EGP 299.6 mn in <\/strong>1Q2020, <\/strong>up 10.4% y-o-y from EGP 271.3 mn in 1Q2021, according to the company\u2019s earnings release (pdf)<\/a>. Revenues also climbed 18% over the first quarter of 2020 to reach EGP 2.04 bn.<\/p>\n

Arab Dairy saw its net income jump to <\/strong>EGP 8.37 mn in 1Q2021, compared to EGP <\/strong>831,647 in the same quarter of 2020<\/strong>, <\/strong>according to the company\u2019s quarterly financials (pdf)<\/a>. Revenues also rose to EGP 383.13 mn in 1Q2021 from EGP 340.15 mn in 1Q2020.<\/p>\n

El Nasr Clothing and Textiles (<\/strong>Kabo<\/a><\/strong>)<\/strong> has reported a net loss of EGP 7.4 mn in 1Q2021,<\/strong> up from a loss of EGP 16.2 mn in 1Q2020, according to its quarterly financials (pdf)<\/a>. Sales were down 16.7% y-o-y to EGP 73.7 mn.<\/p>\n

IN MARKET NEWS- <\/strong><\/p>\n

Tobacco monopoly Eastern Company has officially denied it\u2019s planning to issue <\/strong>securitized bonds,<\/strong> confirming in a statement to the EGX (pdf)<\/a> that \u201cit has not communicated with any party regarding this matter.\u201d This came after Eastern CEO Hany Aman shot down a recent report by Al Shorouk<\/a> claiming that his company was looking into executing a securitized bond sale worth some EGP 3 bn to expand its product line, telling Enterprise this week<\/a> that securitized bonds aren't on the menu.<\/p>\n

MARKET ROUNDUP- <\/strong><\/p>\n

The EGX30 rose 0.5% at today\u2019s close<\/strong> on turnover of EGP 1.05 bn (18.6% below the 90-day average). Foreign investors were net sellers. The index is down 8.4% YTD.<\/p>\n

In the green: <\/strong>Fawry (+1.5%), CIB (+1.5%) and Eastern Company (+1.4%).<\/p>\n

In the red: <\/strong>CI Capital (-3.8%), Qalaa Holdings (-3.2%) and Emaar Misr (-1.8%).<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Pioneers Holding net income inched up to EGP 299.6 mn in 1Q2020, up 10.4% y-o-y from EGP 271.3 mn in 1Q2021, according to the company\u2019s earnings release (pdf). Revenues also climbed 18% over the first quarter of 2020 to reach EGP 2.04 bn. Arab Dairy saw its net income jump to EGP 8.37 […]<\/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":[2812,409,633,503,642,125,131,3307,2080],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566351","post","type-post","status-publish","format-standard","hentry","category-go-with-the-flow","tag-arab-dairy","tag-earnings-watch","tag-enterprisepm","tag-financial-services","tag-go-with-the-flow","tag-investment-watch","tag-manufacturing","tag-pioneers-holding","tag-textiles","wpautop","entry"],"acf":{"mongo_id":"e10ff67c-5375-452f-b09c-aa9ba243f574","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[566342],"teaser":"","voice_url":""},"yoast_head":"\nPioneers, Arab Dairy report higher net income in 1Q2021, Kabo narrows losses - 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\/14\/pioneers-arab-dairy-report-higher-net-income-in-1q2021-kabo-narrows-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pioneers, Arab Dairy report higher net income in 1Q2021, Kabo narrows losses\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Pioneers Holding net income inched up to EGP 299.6 mn in 1Q2020, up 10.4% y-o-y from EGP 271.3 mn in 1Q2021, according to the company\u2019s earnings release (pdf). 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Operating revenues were up to EGP 206.6 mn during the quarter from EGP 179.4\u2026","rel":"","context":"In "GO WITH THE FLOW"","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":566399,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/ezz-steel-finally-turns-profitable-and-in-a-big-way-pioneers-to-soon-finalize-split\/","url_meta":{"origin":566351,"position":2},"title":"Ezz Steel finally turns profitable (and in a big way) + Pioneers to soon finalize split","author":"enterpriseam admin","date":"16 June 2021","format":false,"excerpt":"EARNINGS WATCH- Ezz Steel reverses loss in 1Q2021: Ezz Steel reported a record consolidated profit of EGP 1.2 bn in the first quarter of the year, reversing an EGP 1.35 bn loss in the same quarter last year, according to financial statements (pdf) it released today. 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