{"id":593460,"date":"2019-11-28T04:16:03","date_gmt":"2019-11-28T04:16:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/"},"modified":"2019-11-28T04:16:03","modified_gmt":"2019-11-28T04:16:03","slug":"corporate-earnings-bounce-back-to-pre-float-levels","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/","title":{"rendered":"Corporate earnings bounce back to pre-float levels"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Corporate earnings have bounced back to pre-float levels in USD <\/strong><strong>terms<\/strong> three years after the Central Bank of Egypt pulled the trigger on floating the EGP, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2019-11-27\/egyptian-firms-reap-benefits-of-currency-float-as-profits-surge\">Bloomberg says<\/a>. Corporations are now \u201creaping the benefits\u201d of the float after earnings initially took on the chin as inflation soared to highs of 33%. Now, with inflation decelerating rapidly, FX reserves at an all-time high, and the economy growing at more than 5.6% this year, earnings are catching up. This change \u201creflect[s] the adjustment the economy has gone through and investors\u2019 improved perception\u201d of the country, says Andrew Schultz, head of Africa strategy and sales at Investec Bank.<\/p>\n<p><strong>Egyptian equities are now really worth a look<\/strong>, Bloomberg argues: \u201cRising profit expectations are making Egyptian stocks [less expensive] to own. The EGX 30 Index trades at 8.3 times projected 12-month earnings, <strong>one of the lowest valuations in emerging markets<\/strong>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Corporate earnings have bounced back to pre-float levels in USD terms three years after the Central Bank of Egypt pulled the trigger on floating the EGP, Bloomberg says. Corporations are now \u201creaping the benefits\u201d of the float after earnings initially took on the chin as inflation soared to highs of 33%. Now, with inflation decelerating [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":593461,"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":[271,380,302,72,182,125,1876,1914,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-central-bank-of-egypt","tag-currencies","tag-earnings","tag-enterpriseam","tag-inflation","tag-investment-watch","tag-kenya","tag-nigeria","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"0d8c72f4-1648-4347-a729-8b8478ac2d5b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/11\/1482.jpg","photo_position":"above","related_issue":[593455],"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>Corporate earnings bounce back to pre-float levels - 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\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Corporate earnings bounce back to pre-float levels\" \/>\n<meta property=\"og:description\" content=\"Corporate earnings have bounced back to pre-float levels in USD terms three years after the Central Bank of Egypt pulled the trigger on floating the EGP, Bloomberg says. Corporations are now \u201creaping the benefits\u201d of the float after earnings initially took on the chin as inflation soared to highs of 33%. Now, with inflation decelerating [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-28T04:16:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/1482.jpg?fit=%2C&ssl=1\" \/>\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\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Corporate earnings bounce back to pre-float levels\",\"datePublished\":\"2019-11-28T04:16:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/\"},\"wordCount\":149,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/11\/1482.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Central Bank of Egypt\",\"currencies\",\"earnings\",\"EnterpriseAM\",\"inflation\",\"investment watch\",\"Kenya\",\"Nigeria\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/corporate-earnings-bounce-back-to-pre-float-levels\/\",\"name\":\"Corporate earnings bounce back to pre-float levels - 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The research house forecasts the currency changing hands in\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":591831,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/18\/egypts-private-sector-activity-expected-to-recover-in-2020-amid-favorable-economic-environment-efg\/","url_meta":{"origin":593460,"position":1},"title":"Egypt\u2019s private sector activity expected to recover in 2020 amid \u201cfavorable\u201d economic environment -EFG","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"Egypt\u2019s private sector activity expected to recover in 2020 amid \u201cfavorable\u201d economic environment -EFG: As Egypt\u2019s economy enters 2020 with fiscal consolidation coming to an end and without macro tightening on the horizon, private sector activity is set to begin gradually recovering next year, EFG Hermes\u2019 research team says in\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\/2019\/12\/2478.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":639153,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/23\/orange-egypt-earnings\/","url_meta":{"origin":593460,"position":2},"title":"Orange Egypt Earnings","author":"enterpriseam admin","date":"23 October 2017","format":false,"excerpt":"EARNINGS WATCH- Orange Egypt reported a consolidated net loss after tax of EGP 1.77 bn in 9M2017, down from EGP 133.9 mn a year ago, the company said in a regulatory filing (pdf). Consolidated revenues for the period rose 6.26% to EGP 9.35 bn, up from EGP 8.80 bn last\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":595490,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/29\/central-bank-of-egypt-cuts-rates-by-100-bps-in-line-with-expectations\/","url_meta":{"origin":593460,"position":3},"title":"Central Bank of Egypt cuts rates by 100 bps, in line with expectations","author":"enterpriseam admin","date":"29 September 2019","format":false,"excerpt":"In line with expectations, CBE cuts rates: The Central Bank of Egypt\u2019s Monetary Policy Committee (MPC) cut interest rates by 100 bps on Thursday, the CBE said in a statement (pdf). The central bank cited last month\u2019s inflation figures, which hit a six-year low, as well as declining unemployment and\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\/2018\/11\/1115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":632916,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/22\/earnings-watch-orange-egypt-records-net-losses-for-two-consecutive-years\/","url_meta":{"origin":593460,"position":4},"title":"Earnings watch: Orange Egypt records net losses for two consecutive years","author":"enterpriseam admin","date":"22 February 2018","format":false,"excerpt":"EARNINGS WATCH- Orange Egypt reported a consolidated net loss of EGP 1.65 bn in FY2017, down 35.5% y-o-y from EGP 2.55 bn the previous year, the company said in an EGX filing (pdf). Consolidated revenues for the year rose 7.5% y-o-y to EGP 12.68 bn, up from EGP 11.79 bn.\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":593415,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/investors-will-appreciate-policy-stability-from-amer-staying-on-as-cbe-governor-bloomberg-says\/","url_meta":{"origin":593460,"position":5},"title":"Investors will appreciate policy stability from Amer staying on as CBE governor, Bloomberg says","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"Investors will welcome Amer getting a second term as CBE governor as it signals policy stability, Bloomberg says: Tarek Amer getting a second term as CBE governor is an indicator that there will be policy stability at the central bank over the next four years, a note that will be\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\/2018\/12\/2527.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593460","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=593460"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593460\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593461"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593460"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593460"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}