{"id":596220,"date":"2019-08-21T04:00:55","date_gmt":"2019-08-21T04:00:55","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/21\/earnings-watch-orascom-development-egypt-arabian-cement\/"},"modified":"2019-08-21T04:00:55","modified_gmt":"2019-08-21T04:00:55","slug":"earnings-watch-orascom-development-egypt-arabian-cement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/21\/earnings-watch-orascom-development-egypt-arabian-cement\/","title":{"rendered":"Earnings watch: Orascom Development Egypt, Arabian cement"},"content":{"rendered":"

EARNINGS WATCH- ODE doubles y-o-y profit to EGP 205 mn in 2Q2019:<\/b> Orascom Development Egypt (ODE) doubled its net profits in 2Q2019 to EGP 205.2 mn, up from EGP 101.5 mn in the same period last year, according to an EGX earnings statement (pdf).<\/a> Revenues for the quarter climbed 50.9% to EGP 1.32 bn, up from EGP 873.9 in 1Q2018. Net profit also grew by 113.3% to EGP 393.8 million in 1H2019. \u201cWe are very pleased to see that ODE is continuing its solid stance and continues to be on track to achieve 2019 targets,\u201d said CEO Khaled Bichara. Looking forward, ODE is expecting higher demand for its hotels in 2H2019, following the inauguration of two Thomas Cook hotels in El Gouna and the lifting of German travel restrictions on Taba.<\/p>\n

Cement producer Arabian Cement Company reported a net profit after tax of EGP 19.4 mn in 2Q2019<\/b>, down from EGP 50.8 mn during the same period last year, according to the company\u2019s consolidated financial statements (pdf)<\/a>. Sales revenues for the quarter reached EGP 772.3 mn, up from EGP 727.5 mn in 2Q2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- ODE doubles y-o-y profit to EGP 205 mn in 2Q2019: Orascom Development Egypt (ODE) doubled its net profits in 2Q2019 to EGP 205.2 mn, up from EGP 101.5 mn in the same period last year, according to an EGX earnings statement (pdf). Revenues for the quarter climbed 50.9% to EGP 1.32 bn, up […]<\/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":[302,72,256,83,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-596220","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-earnings","tag-enterpriseam","tag-orascom-development-egypt","tag-real-estate","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"30bebee7-afcb-49c1-9b00-bf59bf31607e","is_powered_by":true,"section_story_id":"beefd6b6-5e5a-4847-8159-8476542d0d40","story_type":"1","photo_url":"","photo_position":"above","related_issue":[596207],"teaser":"","voice_url":""},"yoast_head":"\nEarnings watch: Orascom Development Egypt, Arabian cement - 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\/08\/21\/earnings-watch-orascom-development-egypt-arabian-cement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Orascom Development Egypt, Arabian cement\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- ODE doubles y-o-y profit to EGP 205 mn in 2Q2019: Orascom Development Egypt (ODE) doubled its net profits in 2Q2019 to EGP 205.2 mn, up from EGP 101.5 mn in the same period last year, according to an EGX earnings statement (pdf). 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Consolidates revenues grew 78.8% to EGP 2.6 bn on the back of growth in the company\u2019s hotel business.Separately, ODE\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":572045,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/earnings-watch-orascom-development-eastern-company\/","url_meta":{"origin":596220,"position":1},"title":"Earnings Watch: Orascom Development, Eastern Company","author":"enterpriseam admin","date":"9 June 2020","format":false,"excerpt":"EARNINGS WATCH- Orascom Development profits fall 50% in 1Q2020: Orascom Development Egypt (ODE) profits fell 51% year-on-year to EGP 92 mn in 1Q2020 as the disruption caused by the covid-19 pandemic hurt its tourism operations, according to the company\u2019s earnings statement (pdf). \u201cDespite the disruptions caused by covid-19, ODE is\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":621600,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/13\/earnings-watch-gb-auto-orascom-development-egypt\/","url_meta":{"origin":596220,"position":2},"title":"Earnings Watch: GB Auto, Orascom Development Egypt","author":"enterpriseam admin","date":"13 November 2018","format":false,"excerpt":"EARNINGS WATCH- GB Auto reported a consolidated net profit of EGP 240.4 mn in 3Q2018, reversing losses of EGP 138.9 mn in the same quarter last year, according to the company\u2019s earnings release (pdf). \u201cI am particularly pleased with our Group's performance during the quarter were our assessment of 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":634591,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/18\/ode-announces-87-5-y-o-y-increase-in-2017-sales\/","url_meta":{"origin":596220,"position":3},"title":"ODE announces 87.5% y-o-y increase in 2017 sales","author":"enterpriseam admin","date":"18 January 2018","format":false,"excerpt":"Orascom Development Egypt (ODE) announced yesterday that sales in 2017 grew 87.5% y-o-y to EGP 1.46 bn, up from EGP 781 mn a year before, according to a company release (pdf). The increase was \u201cdriven by the strong sales momentum in El Gouna.\u201d The release says that \u201cthe new hotel\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":642427,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/14\/earnings-watch-porto-group-arabian-cement-company\/","url_meta":{"origin":596220,"position":4},"title":"Earnings watch: Porto Group, Arabian Cement Company","author":"enterpriseam admin","date":"14 August 2017","format":false,"excerpt":"EARNINGS WATCH- Arabian Cement Company reported a consolidated net profit after tax in 2Q2017 of EGP 12 mn, down from EGP 109 mn in 2Q2016, according to the company\u2019s financial statements. Revenues for 2Q2017 fell to EGP 541 from EGP 574 mn during the same period last year.Porto Group reported\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":649107,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/23\/earnings-watch-orascom-hotels-development\/","url_meta":{"origin":596220,"position":5},"title":"Earnings Watch: Orascom Hotels & Development","author":"enterpriseam admin","date":"23 April 2017","format":false,"excerpt":"EARNINGS WATCH- Orascom Hotels & Development reported a consolidated net loss of EGP 499.5 mn in 2016 compared with a net profit of EGP 206.1 mn the previous year. 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