{"id":628836,"date":"2018-05-15T04:21:42","date_gmt":"2018-05-15T04:21:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/"},"modified":"2018-05-15T04:21:42","modified_gmt":"2018-05-15T04:21:42","slug":"earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/","title":{"rendered":"Earnings Watch: EFG Hermes, Ibnsina Pharma, Oriental Weavers, Arabian Cement, Global Telecom, Faisal Islamic Bank report 1Q2018 results"},"content":{"rendered":"

<\/a> EARNINGS WATCH- EFG Hermes <\/strong>reported a net profit after tax<\/strong><\/a> and minority interest of EGP 249 mn in 1Q2018<\/strong>, marking a 6% y-o-y increase \u201cwhen adjusting for one-off gains related to the sale of our stake in Lebanese bank Credit Libanais in the comparable period last year.\u201d Revenues also increased to EGP 945 mn during the quarter. \u201cIn spite of challenging regional market condition, EFG Hermes is off to a strong start in 2018 aided by a strategy that focuses on building Egypt\u2019s leading NBFI platform, a larger buy side business and a sell side business that extends beyond MENA into frontier markets,\u201d CEO Karim Awad said on the results.<\/p>\n

Looking forward:<\/strong> \u201c2018 will see the continuation of our diversification and expansion strategy, with at least one more on-ground expansion into a new geography and the full operational launch of our factoring business under our NBFI platform both planned during the year.\u201d<\/p>\n

Ibnsina Pharma reported a 46% y-o-y jump in net profit for 1Q2018 to EGP 28.0 mn<\/strong>, up from EGP 19.1 mn in the comparable period last year, the company said in its earnings release (pdf)<\/a>. The company recorded a 51.1% y-o-y increase in revenues to EGP 2.9 bn, up from EGP 1.9 bn in 1Q2017, as Ibnsina \u201cdelivered organic growth across all existing business lines by optimizing its distribution network and expanding its product offering through accretive agreements with global pharma manufacturers,\u201d Co-CEO Omar Abdel Gawad said. \u201c<\/p>\n

The company expects to sustain its strong momentum for what remains of the year, <\/strong>Abdel Gawad added, especially as its distribution agreement with Danish insulin maker Novo Nordisk<\/a> kicks off in June, contributing around EGP 300 mn to Ibnsina\u2019s topline during its first year. The agreement is part of Ibnsina\u2019s plans to increase investments<\/a> to EGP 700 mn over the next five years in order to expand its activities, which was made possible by its 4Q2017 IPO.<\/p>\n

Oriental Weavers reported a 21% y-o-y drop in 1Q2018 net profit to EGP 204 mn,<\/strong> down from EGP 258 mn during the same period last year, according to a company release (pdf)<\/a>. Looking ahead, the company will focus on product innovation and sales performance. \u201cWe will continue to invest in our business, supporting future growth and profitability while consistently improving cost efficiency,\u201d Founder Mohamed Farid Khamis said.<\/p>\n

Arabian Cement reported a net profit after tax of EGP 162 mn in 1Q2018,<\/strong> up from EGP 59.7 mn during the same period last year, according to a company release (pdf)<\/a>.<\/p>\n

Global Telecom Holding (GTH) reported a net profit of USD 38.2 mn in 1Q2018, <\/strong>up from USD 1.2 mn during the same period last year, according to a company release (pdf)<\/a>. The company\u2019s total revenues saw a 7.0% y-o-y drop to USD 699 mn from USD 752 mn in 1Q2017.<\/p>\n

Faisal Islamic Bank reported a net profit of EGP 777.9 in 1Q2018, <\/strong>up from EGP 439.7 mn during the same period last year, according to an EGX filing<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

EARNINGS WATCH- EFG Hermes reported a net profit after tax and minority interest of EGP 249 mn in 1Q2018, marking a 6% y-o-y increase \u201cwhen adjusting for one-off gains related to the sale of our stake in Lebanese bank Credit Libanais in the comparable period last year.\u201d Revenues also increased to EGP 945 mn during […]<\/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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-628836","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"dec64bab-8e1e-45c0-9bbd-fae3c6fc6c41","order":"0","is_powered_by":true,"section_story_id":"5f7c01ca-3e1b-4f12-ac63-26ccd4310542","story_type":"1","photo_url":"","photo_position":"above","related_issue":[628822],"teaser":"","voice_url":""},"yoast_head":"\nEarnings Watch: EFG Hermes, Ibnsina Pharma, Oriental Weavers, Arabian Cement, Global Telecom, Faisal Islamic Bank report 1Q2018 results - 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\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earnings Watch: EFG Hermes, Ibnsina Pharma, Oriental Weavers, Arabian Cement, Global Telecom, Faisal Islamic Bank report 1Q2018 results\" \/>\n<meta property=\"og:description\" content=\"EARNINGS WATCH- EFG Hermes reported a net profit after tax and minority interest of EGP 249 mn in 1Q2018, marking a 6% y-o-y increase \u201cwhen adjusting for one-off gains related to the sale of our stake in Lebanese bank Credit Libanais in the comparable period last year.\u201d Revenues also increased to EGP 945 mn during […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-15T04:21:42+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\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Earnings Watch: EFG Hermes, Ibnsina Pharma, Oriental Weavers, Arabian Cement, Global Telecom, Faisal Islamic Bank report 1Q2018 results\",\"datePublished\":\"2018-05-15T04:21:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/\"},\"wordCount\":489,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/05\/15\/earnings-watch-efg-hermes-ibnsina-pharma-oriental-weavers-arabian-cement-global-telecom-faisal-islamic-bank-report-1q2018-results\/\",\"name\":\"Earnings Watch: EFG Hermes, Ibnsina Pharma, Oriental Weavers, Arabian Cement, Global Telecom, Faisal Islamic Bank report 1Q2018 results - 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Revenues rose 42% y-o-y to reach EGP 1.3 bn, up from EGP 945 mn in 1Q2018. Earnings growth was driven by a 58% y-o-y increase in commissions and\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":573852,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/19\/earnings-watch-efg-hermes-saw-8-y-o-y-net-profit-growth-in-2q2020\/","url_meta":{"origin":628836,"position":1},"title":"Earnings Watch- EFG Hermes saw 8% y-o-y net profit growth in 2Q2020","author":"enterpriseam admin","date":"19 August 2020","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes saw 8% y-o-y net profit growth in 2Q2020: EFG Hermes saw net profits grow to EGP 328 mn in 2Q2020, according to a company\u2019s earnings release (pdf) as revenues rose 26% y-o-y to EGP 1.3 bn in 2Q2020. \u201cTop line performance was primarily driven by revenue\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":576333,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/19\/efg-hermes-posts-18-y-o-y-net-profit-growth-in-3q2020\/","url_meta":{"origin":628836,"position":2},"title":"EFG Hermes posts 18% y-o-y net profit growth in 3Q2020","author":"enterpriseam admin","date":"19 November 2020","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes profits grow 18% y-o-y in 3Q2020: EFG Hermes\u2019 net profits increased to EGP 422 mn in 3Q2020, up from EGP 358 in the third quarter of last year, according to the company\u2019s earnings release (pdf). Revenues grew 21% y-o-y to EGP 1.4 bn in 3Q2020. Performance\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":570132,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/19\/efg-hermes-net-profit-up-36-in-2019\/","url_meta":{"origin":628836,"position":3},"title":"EFG Hermes net profit up 36% in 2019","author":"enterpriseam admin","date":"19 March 2020","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes\u2019 net profit surged 36% in 2019 to EGP 1.38 bn from EGP 1 bn a year earlier, according to the company\u2019s earnings release (pdf). Revenues in 2019 reached EGP 4.8 bn, up from EGP 4 bn in 2018. On a quarterly basis, profits grew by 16%\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":602167,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/20\/earnings-watch-efg-hermes-and-al-ezz-dekheila-steel-report-2018-results\/","url_meta":{"origin":628836,"position":4},"title":"Earnings watch: EFG-Hermes and Al Ezz Dekheila Steel report 2018 results","author":"enterpriseam admin","date":"20 March 2019","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes is proposing an EGP 0.65 \/ share dividend for FY2018 pending approval of the financial service corporation\u2019s shareholders, the company said as it announced its 2018 earnings (pdf). The group reported net profit of EGP 1 bn on revenues of EGP 4.3 bn. Notably, its non-bank\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":636187,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/26\/efg-to-begin-factoring-services-in-1q2018-awad\/","url_meta":{"origin":628836,"position":5},"title":"EFG to begin factoring services in 1Q2018 -Awad","author":"enterpriseam admin","date":"26 December 2017","format":false,"excerpt":"In other EFG Hermes news, the investment bank will begin offering factoring services in 1Q2018, CEO Karim Awad said, according to Reuters. \u201cWe see that the Egyptian market is the biggest one that investors can make profit in throughout the coming period,\u201d Awad said. EFG Hermes expects non-financial services to\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628836","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=628836"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/628836\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/628822"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=628836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=628836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=628836"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=628836"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=628836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}