{"id":572273,"date":"2020-06-17T04:10:49","date_gmt":"2020-06-17T04:10:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/"},"modified":"2020-06-17T04:10:49","modified_gmt":"2020-06-17T04:10:49","slug":"earnings-watch-fawry-porto-group","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/","title":{"rendered":"Earnings watch: Fawry, Porto Group"},"content":{"rendered":"<p><strong>EARNINGS WATCH- Fawry reports 82% growth in profits in 1Q2020:<\/strong> Profits at e-payment service provider Fawry surged by 82% in 1Q2020 to EGP 38 mn from EGP 21 mn in the same period last year, according to its quarterly <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d9%81%d9%88%d8%b1%d9%89%20%d9%85%d8%ac%d9%85%d8%b9%d8%a9%2016-06-2020.pdf\">financial statement (pdf)<\/a>. Revenues rose to EGP 258 mn during the three-month period from EGP 174 mn in 1Q2019.<\/p>\n<p><strong>Fawry CEO Ashraf Sabry <\/strong><strong><a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d9%81%d9%88%d8%b1%d9%89%20%d8%a8%d9%8a%d8%a7%d9%86%20%d8%a7%d9%86%d8%ac%d9%84%d9%8a%d8%b2%d9%89%2016-06-2020.pdf\">projected (pdf)<\/a><\/strong><strong> that the strong performance should continue <\/strong><strong>through the second quarter<\/strong>, as segments hit by covid-19 (travel, entertainment) are outweighed by increasing use of essential services as well as e-commerce and wallets.<\/p>\n<p><strong>Porto Group turns losses of EGP 16.3 mn in 1Q2020:<\/strong> Porto Group registered losses of EGP 16.3 mn in 1Q2020 against net profits of EGP 59.6 mn in 1Q2019, <a href=\"https:\/\/www.egx.com.eg\/downloads\/News\/%d8%a8%d9%88%d8%b1%d8%aa%d9%88%20%d9%82%d9%88%d8%a7%d8%a6%d9%85%20%d9%85%d8%ac%d9%85%d8%b9%d8%a9-16-06-2020.pdf\">according to its regulatory disclosure (pdf).<\/a> Revenues took a hit during the first months of the year, falling more than 50% to EGP 206 mn from EGP 417.8 mn in 1Q2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Fawry reports 82% growth in profits in 1Q2020: Profits at e-payment service provider Fawry surged by 82% in 1Q2020 to EGP 38 mn from EGP 21 mn in the same period last year, according to its quarterly financial statement (pdf). Revenues rose to EGP 258 mn during the three-month period from EGP 174 [&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":[8572],"tags":[107,199,302,72,519,183,669,2380,639],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572273","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-covid-19","tag-e-commerce","tag-earnings","tag-enterpriseam","tag-fawry","tag-fintech","tag-porto-group","tag-speed-round","tag-technology","wpautop","entry"],"acf":{"mongo_id":"adadb050-e374-4729-a495-869af8c61942","is_powered_by":true,"section_story_id":"4a6012f3-030a-4f4c-88f5-b123e955f9a4","story_type":"1","photo_url":"","photo_position":"above","related_issue":[572257],"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: Fawry, Porto Group - 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\/2020\/06\/17\/earnings-watch-fawry-porto-group\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Fawry, Porto Group\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Fawry reports 82% growth in profits in 1Q2020: Profits at e-payment service provider Fawry surged by 82% in 1Q2020 to EGP 38 mn from EGP 21 mn in the same period last year, according to its quarterly financial statement (pdf). Revenues rose to EGP 258 mn during the three-month period from EGP 174 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-17T04:10:49+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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings watch: Fawry, Porto Group\",\"datePublished\":\"2020-06-17T04:10:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/\"},\"wordCount\":148,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"covid-19\",\"e-commerce\",\"earnings\",\"EnterpriseAM\",\"Fawry\",\"Fintech\",\"Porto Group\",\"SPEED ROUND\",\"technology\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/\",\"name\":\"Earnings watch: Fawry, Porto Group - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2020-06-17T04:10:49+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Earnings watch: Fawry, Porto Group\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Earnings watch: Fawry, Porto Group - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/17\/earnings-watch-fawry-porto-group\/","og_locale":"en_US","og_type":"article","og_title":"Earnings watch: Fawry, Porto Group","og_description":"EARNINGS WATCH- Fawry reports 82% growth in profits in 1Q2020: Profits at e-payment service provider Fawry surged by 82% in 1Q2020 to EGP 38 mn from EGP 21 mn in the same period last year, according to its quarterly financial statement (pdf). 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QNB Al-Ahli\u2019s net profits dipped 8% to EGP 1.87 bn in 1Q2020\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":564194,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/16\/fawry-mm-group-ode-all-report-stellar-earnings-in-2q2021\/","url_meta":{"origin":572273,"position":1},"title":"Fawry, MM Group, ODE all report stellar earnings in 2Q2021","author":"enterpriseam admin","date":"16 August 2021","format":false,"excerpt":"EARNINGS WATCH- Fawry\u2019s net income rose 7% to EGP 51.4 mn in 2Q2021, up from EGP 47.9 mn in the same period last year, according to its financials (pdf). Revenues jumped 35% to EGP 393.6 mn in the April-June period, up from EGP 291.3 mn last year. The modest earnings\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":572197,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/15\/arabian-cement-profits-triple-in-1q2020-to-egp-16-mn\/","url_meta":{"origin":572273,"position":2},"title":"Arabian Cement profits triple in 1Q2020 to EGP 16 mn","author":"enterpriseam admin","date":"15 June 2020","format":false,"excerpt":"EARNINGS WATCH- Arabian Cement profits triple in 1Q2020 to EGP 16 mn: Spending cuts helped Arabian Cement to deliver a threefold increase in net profit during 1Q2020 despite falling sales revenue. The company yesterday reported (pdf) EGP 15.91 mn in profit during the first three months of the year, up\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":593764,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/09\/egyptian-e-payments-platform-fawry-reports-1h2019-earnings\/","url_meta":{"origin":572273,"position":3},"title":"Egyptian e-payments platform Fawry reports 1H2019 earnings","author":"enterpriseam admin","date":"9 October 2019","format":false,"excerpt":"EARNINGS WATCH- Fawry reports 7% y-o-y fall in 1H2019 profits: E-payments platform Fawry reported a 7% y-o-y decline in net profit to EGP 23.7 mn in 1H2019, compared to EGP 25.5 mn in 1H2018, according to the company\u2019s maiden earnings release (pdf). Revenues climbed to EGP 373.3 mn during 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":571850,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/02\/earnings-watch-domty-records-uptick-in-1q2020-profits\/","url_meta":{"origin":572273,"position":4},"title":"Earnings watch: Domty records uptick in 1Q2020 profits","author":"enterpriseam admin","date":"2 June 2020","format":false,"excerpt":"EARNINGS WATCH- Domty profits up 11% in 1Q: Arabian Food Industries (Domty) recorded EGP 32.1 mn in net profit in 1Q2020, up 11% from EGP 28.8 mn in the same period last year, according to its latest financials (pdf). Revenues rose 13.7% on an annual basis to hit EGP 745\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":572432,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/24\/dice-reports-net-losses-of-egp-43-3-mn-for-1q2020\/","url_meta":{"origin":572273,"position":5},"title":"Dice reports net losses of EGP 43.3 mn for 1Q2020","author":"enterpriseam admin","date":"24 June 2020","format":false,"excerpt":"EARNINGS WATCH: Dice Sport and Casual Wear reported consolidated net losses of EGP 43.3 mn for 1Q2020, compared with the net profits of EGP 31.1 mn recorded in the same period last year, according to a disclosure to the EGX.","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\/572273","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=572273"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572273\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572257"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=572273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=572273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=572273"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=572273"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=572273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}