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Follow-up on SODIC-MNHD deal

SODIC (OCDI EY, Under Review) | Madinet Nasr Housing (MNHD EY, Overweight, TP EGP14.90): SODIC’s board has agreed to preliminarily make a mandatory tender...

August inflation contributors

Egypt's annual urban consumer inflation accelerated to 14.2% in August from 13.5% in the previous month, with monthly prices decelerating to 1.8% from 2.4%...

ESRS EY 2Q18 results review

Ezz Steel (ESRS EY): The company’s net loss narrowed to EGP322m in 2Q18 from EGP550m a year earlier, its audited financial statements showed. (Company...

ADIB 2Q18 results review

Abu Dhabi Islamic Bank (ADIB EY): The bank’s 2Q18 net profit rose c102% y-o-y to EGP217m, according to its standalone KPIs. (Company release) Our comment:...

ARCC EY 2Q18 results review

Arabian Cement (ARCC EY): The company’s 2Q18 consolidated net profit rose c327% y-o-y to EGP51m, according to its audited financial statements. (EGX) Our comment: This...

GB AUTO 2Q18 results review

GB Auto (AUTO EY): The company reported 2Q18 net profit figure of EGP148m, reversing a net loss of EGP151m a year earlier, its audited...

PHDC 2Q18 earnings review

Palm Hills Developments (PHDC EY): The company’s 2Q18 net income increased c57% y-o-y to EGP216m, its earnings release showed. Revenue increased c16% y-o-y to...

EFID EY 2Q18 results review

Edita Food Industries (EFID EY): The company reported a 2Q18 net profit of EGP25.1m, reversing a net loss of EGP2.99m last year, its audited...

DOMT EY 2Q18 results review

Arabian Food Industries Company (Domty) (DOMT EY): The company’s unaudited 2Q18 net profit rose 4.8x y-o-y to EGP57.7m, it announced in a release. (Company...

TMGH 1Q18 earnings release

Talaat Moustafa Group Holding (TMGH EY): The company’s 1Q18 gross residential sales grew c27% y-o-y to EGP2.33bn while gross retail sales dropped c75% y-o-y...

Arabian Cement 1Q18 earnings review

Arabian Cement (ARCC EY): The company’s 1Q18 consolidated net profit rose c172% y-o-y to EGP162m, according to a bourse release. (EGX) Our comment: This comes...

EFG Hermes 1Q18 earnings review

EFG Hermes Holding (HRHO EY): The company’s 1Q18 consolidated net income dropped c30% y-o-y to EGP249m, its audited financials showed. (Company Release) Our comment: This...

Oriental Weavers 1Q18 results review

Oriental Weavers (ORWE EY): The company’s 1Q18 net profit dropped c20% y-o-y to EGP189m, its audited financial statements showed. (Company release) Our comment: This comes...

CIB 1Q18 earnings review

Commercial International Bank (COMI EY): The bank’s 1Q18 consolidated net profit rose c17% y-o-y to EGP2.02bn, its audited financial statements showed. (Company release) Our...

Emaar Misr 1Q18 earnings release

Emaar Misr (EMFD EY) | Emaar Properties (EMAAR UH): The company’s 1Q18 off-plan sales came in flat y-o-y at EGP1.45bn, according to the 1Q18...

DOMT EY 1Q18 results review

Arabian Food Industries (Domty) (DOMT EY): The company reported an unaudited 1Q18 net profit of EGP40.5m, reversing a net loss of EGP6m last year,...

ESRS EY 4Q17 review

Ezz Steel (ESRS EY, Overweight, TP EGP22.0): The company reported a net loss of EGP194m in 4Q17, reversing a net profit of EGP727m a...

ARCC EY 4Q17 results review

Arabian Cement (ARCC EY, Overweight, TP EGP10.0): The company’s 4Q17 consolidated net profit declined c45% y-o-y to EGP48m, according to a bourse release. In...

March MPC meeting expectations

At its last meeting on 18 February 2018, the Central bank of Egypt’s (CBE) Monetary Policy Committee (MPC) cut its policy rates for the...

GB Auto 4Q17 results review

GB Auto (AUTO EY, Neutral, TP EGP6.34): The company’s 4Q17 net loss narrowed to EGP223m from a net loss of EGP1.06bn a year earlier,...

Juhayna 4Q17 results review

Juhayna Food Industries (JUFO EY, Overweight, TP EGP11.8): The company reported 4Q17 net profit of EGP47m, reversing a net loss of EGP115m last year,...

December inflation contributors

Egypt’s annual urban inflation decelerated to 21.9% in December from 26.0% in the previous month, with monthly prices dropping 0.21% from an increase of...

ESRS 3Q17 results review

Ezz Steel (ESRS EY, Overweight, TP EGP22.0): The company’s 3Q17 net loss widened to EGP315m in 3Q17 from the EGP188m net loss reported a...

EZDK 3Q17 results review

Ezz Steel (ESRS EY, Overweight, TP EGP22.0) | Al Ezz Dekheila Steel (IRAX EY, Not Rated): Al Ezz Dekheila Steel (EZDK), in which Ezz...

November inflation contributors

Egypt’s annual urban inflation decelerated to 26.0% in November from 30.8% in the previous month, with monthly inflation also decelerating to 0.97% from 1.10%...

SKPC EY 3Q17 KPIs review

SIDPEC (SKPC EY, Neutral, TP EGP21.2): The company’s 3Q17 unaudited net profit fell c28% y-o-y to EGP95.7m, it said in a bourse filing. (EGX) Our...

ORAS EY to sign 250 MW wind project

Orascom Construction (ORAS EY, OC DU, Overweight, TP EGP158): The company’s consortium with Engie and Toyota Tsusho Corporation/Eurus Energy Holdings Corporation has signed a...

September inflation contributors

Egypt’s annual urban inflation decelerated to 31.6% in September from 31.9% in the previous month, with monthly inflation decelerating to 1.00% from 1.13% in...

July inflation contributors

Egypt’s annual urban inflation accelerated to 33.0% in July from 29.8% in the previous month, with monthly inflation accelerating to 3.2% from 0.8% in...