{"id":601546,"date":"2019-03-04T04:18:09","date_gmt":"2019-03-04T04:18:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/"},"modified":"2019-03-04T04:18:09","modified_gmt":"2019-03-04T04:18:09","slug":"earnings-watch-emaar-mm-group-gth-oriental-weavers","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/","title":{"rendered":"Earnings watch: Emaar, MM Group, GTH, Oriental Weavers"},"content":{"rendered":"<p><b>EARNINGS WATCH-<\/b> <b>Global Telecom Holding returned to profit in 4Q2018<\/b>, reporting a net profit of USD 98 mn compared to a loss of USD 136 mn during the comparable period a year earlier, <a href=\"http:\/\/www.gtelecom.com\/documents\/10157\/228081\/GTH+4Q18+Earnings+Release+%28E%29.pdf\">the company said in a statement on its website (pdf)<\/a>. Revenues fell 3% year-on-year to USD 702 mn. The return to profit was mainly due to lower financial expenses and lower FX losses on the back of the revaluation of interest over the put option liability coupled with the depreciation of the currency in Pakistan and lower income tax due to the cancellation of Deodar and related tax adjustments. Total customer base grew by 4.3% year-on-year to 103.9 mn.<\/p>\n<p><b>On a full-year basis, the company recorded a net loss of USD 249.7 mn in FY2018<\/b> compared to a net loss of USD 79.1 mn in FY2017, according to <a href=\"http:\/\/www.egx.com.eg\/ar\/NewsDetails.aspx?NewsID=182699\">a disclosure to the EGX<\/a>. GTH\u2019s board has called for an extraordinary general assembly on 27 March to decide on the continuation of the company\u2019s activity despite annual losses exceeding 50% of the value of shareholders\u2019 equity, <a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%AC%D9%84%D9%88%D8%A8%D8%A7%D9%84%20%D9%85%D8%AC%D9%84%D8%B3%2003-03-2019.pdf\">it said in a filing to the bourse (pdf)<\/a>. Shareholders will also vote during the meeting on the proposed EGP 11.2 bn capital increase, the same increase which<u> saw the FRA ban <\/u><a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/17\/egypts-fra-rejects-veon-appeal-against-gth-capital-increase-voting-rights\/\">majority shareholder Veon<\/a> from voting on. Veon has <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/11\/veon-moves-ahead-with-egx-listed-gth-take-private-bid\/\">filed for regulatory approval<\/a> to take GTH private.<\/p>\n<p><b>Emaar Misr reported a consolidated net profit of EGP 3.4 bn<\/b> in FY2018, up 48% y-o-y from EGP 2.3 bn in FY2017, <a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%A7%D9%84%D9%82%D9%88%D8%A7%D8%A6%D9%85%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D9%87%20%D8%A7%D9%84%D9%85%D8%AC%D9%85%D8%B9%D9%87%20%D9%81%D9%89%2031%20%D8%AF%D9%8A%D8%B3%D9%85%D8%A8%D8%B1%202018.pdf\">according to its earnings release (pdf)<\/a>. Revenues for the year stood at EGP 6.3 bn, up from EGP 4.5 bn the previous year.<\/p>\n<p><b>MM Group For Industry And International Trade<\/b> reported a net profit after tax of EGP 275.5 mn in FY2018, down from EGP 339.3 mn in FY2017, <a href=\"http:\/\/www.egx.com.eg\/downloads\/Bulletins\/226928_2.pdf\">according to a bourse filing (pdf)<\/a>. The drop came despite an increase in topline sales for the year to EGP 7.6 bn, from EGP 6.1 bn in 2017.<\/p>\n<p><b>Oriental Weavers\u2019 2018 net income fell to EGP 503.7 mn from EGP 683.3 mn in 2017<\/b>, <a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%A7%D9%84%D9%86%D8%B3%D8%A7%D8%AC%D9%88%D9%86%20%D9%85%D8%AC%D9%85%D8%B9%D8%A9%2003-03-2019.pdf\">the company said in a filing to the bourse (pdf)<\/a>. Revenues came at EGP 10.4 bn in 2018 vs EGP 10.2 bn. <a href=\"http:\/\/www.egx.com.eg\/downloads\/News\/%D8%A7%D9%84%D9%86%D8%B3%D8%A7%D8%AC%D9%88%D9%86%20%D9%85%D8%AC%D9%84%D8%B3%2003-03-2019.pdf\">The board decisions are available here (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EARNINGS WATCH- Global Telecom Holding returned to profit in 4Q2018, reporting a net profit of USD 98 mn compared to a loss of USD 136 mn during the comparable period a year earlier, the company said in a statement on its website (pdf). Revenues fell 3% year-on-year to USD 702 mn. The return to profit [&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":[214,302,72,83,338,2380,2080],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601546","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-cit","tag-earnings","tag-enterpriseam","tag-real-estate","tag-retail","tag-speed-round","tag-textiles","wpautop","entry"],"acf":{"mongo_id":"e530c6b8-8e6f-427e-b3e0-550359f83a7b","is_powered_by":true,"section_story_id":"2927e908-f16a-4a93-ae2b-efc0d6465439","story_type":"1","photo_url":"","photo_position":"above","related_issue":[601529],"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: Emaar, MM Group, GTH, Oriental Weavers - 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\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings watch: Emaar, MM Group, GTH, Oriental Weavers\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- Global Telecom Holding returned to profit in 4Q2018, reporting a net profit of USD 98 mn compared to a loss of USD 136 mn during the comparable period a year earlier, the company said in a statement on its website (pdf). Revenues fell 3% year-on-year to USD 702 mn. The return to profit [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-04T04:18:09+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=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings watch: Emaar, MM Group, GTH, Oriental Weavers\",\"datePublished\":\"2019-03-04T04:18:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/\"},\"wordCount\":352,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"CIT\",\"earnings\",\"EnterpriseAM\",\"real estate\",\"retail\",\"SPEED ROUND\",\"textiles\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/03\/04\/earnings-watch-emaar-mm-group-gth-oriental-weavers\/\",\"name\":\"Earnings watch: Emaar, MM Group, GTH, Oriental Weavers - 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Among those reporting earnings yesterday: Global Telecom Holding announced that its net profit attributable to shareholders increased to USD 7.3 mn in 4Q2016 from a\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":597105,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/maridive-reports-consolidated-loss-of-usd-3-7-mn-in-1q2019\/","url_meta":{"origin":601546,"position":1},"title":"Maridive reports consolidated loss of USD 3.7 mn in 1Q2019","author":"enterpriseam admin","date":"16 July 2019","format":false,"excerpt":"EARNINGS WATCH- Maridive & Oil Services has reported a consolidated net loss of USD 3.77 mn in 1Q2019, compared to a USD 7 mn profit during the same period the previous year, according to the company\u2019s financial statement (pdf). \u064cRevenues fell 27% to USD 39.1 mn during the quarter, down\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":567111,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/13\/maridive-reports-consolidated-loss-of-usd-22-2-mn-for-9m2019\/","url_meta":{"origin":601546,"position":2},"title":"Maridive reports consolidated loss of USD 22.2 mn for 9M2019","author":"enterpriseam admin","date":"13 January 2020","format":false,"excerpt":"EARNINGS WATCH- Maridive & Oil Services reported a consolidated net loss of USD 22.2 mn in 9M2019, compared to a USD 18.3 mn profit during the same period the previous year, according to an EGX disclosure (pdf). \u064cRevenues fell 33% y-o-y to USD 105.5 mn during the first nine months\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":572233,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/earnings-watch-sodic-orascom-investment-b-investments-raya\/","url_meta":{"origin":601546,"position":3},"title":"Earnings watch: Sodic, Orascom Investment, B Investments, Raya","author":"enterpriseam admin","date":"16 June 2020","format":false,"excerpt":"EARNINGS WATCH- Sodic reported a net profit of EGP 28 mn in 1Q2020, down from EGP 161 mn in 1Q2019. Revenues came in at EGP 429 mn from EGP 941 mn in the first quarter of 2019. Low interest income following 750 basis points worth of rate cuts by 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":632984,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/25\/earnings-watch-nbk-egypt-gth\/","url_meta":{"origin":601546,"position":4},"title":"Earnings watch: NBK Egypt, GTH","author":"enterpriseam admin","date":"25 February 2018","format":false,"excerpt":"EARNINGS WATCH- The National Bank of Kuwait Egypt reported a 77.07% y-o-y jump in net profit to EGP 1.5 bn in FY2017, according to the company\u2019s earnings release (pdf).EARNINGS WATCH- Global Telecom Holding (GTH) reported a net loss attributable to shareholders of USD 133 mn in 4Q2017, down from a\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":598175,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/16\/earnings-watch-adib-acc-b-investments-raya-naeem-hhd-eastern-obourland-eipico\/","url_meta":{"origin":601546,"position":5},"title":"Earnings watch: ADIB, ACC, B Investments, Raya, Naeem, HHD, Eastern, Obourland, EIPICO","author":"enterpriseam admin","date":"16 May 2019","format":false,"excerpt":"EARNINGS WATCH- B Investments posted a net profit of EGP 35.48 mn in 1Q2019, up 5.5% y-o-y from EGP 33.53 mn in the comparable quarter last year, the company said (pdf). The rise in profits was fueled by an 18% increase in revenues to EGP 50.25 mn during the quarter\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601546","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=601546"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/601546\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/601529"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=601546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=601546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=601546"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=601546"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=601546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}