{"id":576255,"date":"2020-11-17T04:02:36","date_gmt":"2020-11-17T04:02:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/17\/earnings-fawry-phd-al-ahly-for-development-and-investment-adib-misr-cement-qena\/"},"modified":"2020-11-17T04:02:36","modified_gmt":"2020-11-17T04:02:36","slug":"earnings-fawry-phd-al-ahly-for-development-and-investment-adib-misr-cement-qena","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/17\/earnings-fawry-phd-al-ahly-for-development-and-investment-adib-misr-cement-qena\/","title":{"rendered":"Earnings: Fawry, PHD, Al Ahly for Development and Investment, ADIB, Misr Cement (Qena)"},"content":{"rendered":"

EARNINGS WATCH- Fawry\u2019s net profit surged 99% y-o-y in 9M2020 to EGP 119.1 <\/strong>mn<\/strong> from EGP 59.7 mn last year, according to a company earnings release (pdf)<\/a>. Revenues rose 45% to EGP 892.7 mn from EGP 614.9 mn last year. \u201cFawry\u2019s top line continues to grow at a rapid clip \u2026 [and] remains broad-based and driven by strong performance across each of Fawry\u2019s business segments,\u201d CEO Ashraf Sabry said. The performance of the company\u2019s banking services segment and its FawryPlus chain of banking outlets were handed an \u201cextra boost\u201d during 3Q, and myFawry app downloads crossed the 1 mn mark, he said.<\/p>\n

Looking ahead:<\/strong> \u201cWe are confident that Fawry\u2019s financial results for FY2020 will remain well within published guidance,\u201d and the company will be \u201cwell-positioned to capture significant growth potential in 2021,\u201d Sabry said.<\/p>\n

Palm Hills Development\u2019s net profits surged 156% in 3Q2020 to EGP 238 mn<\/strong>, up from EGP 93 mn in 3Q2019, the company said in its earnings release (pdf)<\/a>. The company\u2019s topline grew 39% to EGP 1.5 bn from EGP 1.1 bn in the third quarter of last year. Meanwhile, home sales have recovered following the easing of the partial lockdown, it said.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- Fawry\u2019s net profit surged 99% y-o-y in 9M2020 to EGP 119.1 mn from EGP 59.7 mn last year, according to a company earnings release (pdf). Revenues rose 45% to EGP 892.7 mn from EGP 614.9 mn last year. \u201cFawry\u2019s top line continues to grow at a rapid clip \u2026 [and] remains broad-based and […]<\/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":[130,302,72,519,183,157,3554,595,354,83,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576255","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-construction","tag-earnings","tag-enterpriseam","tag-fawry","tag-fintech","tag-heliopolis-housing-and-development","tag-misr-cement-qena","tag-non-banking-financial-services","tag-palm-hills-developments","tag-real-estate","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ce18c3e8-4f59-4f95-8217-2b915f829789","is_powered_by":true,"section_story_id":"b0cf47be-9482-49f9-bc1a-4e4a1019da07","story_type":"1","photo_url":"","photo_position":"above","related_issue":[576238],"teaser":"","voice_url":""},"yoast_head":"\nEarnings: Fawry, PHD, Al Ahly for Development and Investment, ADIB, Misr Cement (Qena) - 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\/11\/17\/earnings-fawry-phd-al-ahly-for-development-and-investment-adib-misr-cement-qena\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings: Fawry, PHD, Al Ahly for Development and Investment, ADIB, Misr Cement (Qena)\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Fawry\u2019s net profit surged 99% y-o-y in 9M2020 to EGP 119.1 mn from EGP 59.7 mn last year, according to a company earnings release (pdf). 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Al Ahly for Development and Investment\u2019s consolidated net profit fell to EGP 1.15 mn in 9M2020, down from EGP 11.26 mn in the\u2026","rel":"","context":"In "Speed Round"","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":582411,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/08\/fawrys-net-income-rises-70-in-2022\/","url_meta":{"origin":576255,"position":3},"title":"Fawry\u2019s net income rises 70% in 2022","author":"enterpriseam admin","date":"8 March 2023","format":false,"excerpt":"E-payments giant Fawry\u2019s adjusted net income climbed 70% y-o-y to EGP 316.9 mn in 2022, according to its earnings release (pdf). Revenues, meanwhile, rose 38% to EGP 2.3 bn for the year. 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