{"id":610162,"date":"2023-11-15T00:00:00","date_gmt":"2023-11-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/15\/this-evening-e-finance-efg-holding-and-macro-pharma-announce-results-as-earnings-season-is-in-full-swing\/"},"modified":"2023-11-15T00:00:00","modified_gmt":"2023-11-15T00:00:00","slug":"this-evening-e-finance-efg-holding-and-macro-pharma-announce-results-as-earnings-season-is-in-full-swing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/15\/this-evening-e-finance-efg-holding-and-macro-pharma-announce-results-as-earnings-season-is-in-full-swing\/","title":{"rendered":"THIS EVENING: E-Finance, EFG Holding, and Macro Pharma announce results as earnings season is in full swing"},"content":{"rendered":"

Good afternoon, wonderful people, and happy almost-THURSDAY.<\/strong> The news cycle here at home remains led primarily by financial results from blue-chips. <\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

Earnings season is in full swing<\/strong>, with E-Finance, EFG Holding, and Macro Pharma among those releasing results today: <\/p>\n

E-Finance reported EGP 429.0 mn in net income in 3Q 2023, rising 111.5% y-o-y<\/strong>, with revenues for the quarter rising 52.3% y-o-y to EGP 1.03 bn, according to its earnings release (pdf)<\/a>. <\/p>\n

EFG Holding\u2019s earnings went up on solid performance in investment and commercial <\/strong>bank arms:<\/strong> EFG Holding\u2019s net income after tax and minority interest rose 24% y-o-y to EGP 395 mn in 3Q 2023, driven mainly by gains from its investment bank, EFG Hermes, and its commercial bank arm, aiBank, according to a press release (pdf)<\/a>. Revenues during the quarter climbed 27% y-o-y to EGP 3 bn. <\/p>\n

Macro Pharma reported EGP 98.10 mn in net income in 9M 2023<\/strong>, dipping 24.2% y-o-y, according to the company\u2019s earnings release (pdf)<\/a>. Its topline came in at EGP 589.5 mn, rising 13% y-o-y, which the company attributed to \u201cimproved pricing\u201d that offset the impact of lower sales volumes. <\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

MUCH HASN\u2019T CHANGED SINCE THIS MORNING- Israel\u2019s siege of Al <\/strong>Shifa hospital, the largest in Gaza, continues to lead the conversation<\/strong> in the international press after Israeli troops entered the hospital in what they described as a \u201cprecise and targeted operation\u201d against Hamas. Israel and the US maintain that Hamas is using hospitals to conduct their operations and hide top brass \u2014 claims that doctors at Al Shifa vehemently deny. (Financial Times<\/a> | Bloomberg<\/a> | Associated Press<\/a> | Washington Post<\/a> | Wall Street Journal<\/a>)<\/p>\n

OVER AT THE KREMLIN- Putin is keeping an eye on the Asia-Pacific Economic <\/strong>Cooperation (<\/strong>APEC<\/a><\/strong>) summit today <\/strong>as talks between Chinese President Xi Jinping and US President Joe Biden are taking place. Given their alliance with China, Russia isn\u2019t very keen on any agreements between their ally and the US. Russian news agencies are making sure to dim down the meeting by stressing the differences between the two, rather than mentioning the summit or Xi-Biden talks, according to CNBC<\/a>. <\/p>\n

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** CATCH UP QUICK on the top stories from today\u2019s EnterpriseAM:<\/strong><\/p>\n