EARNINGS WATCH-

El Nasr Civil Works reported a net income of EGP 958k in 2021, reversing from net losses of EGP 27.02 mn in 2020, according to the company’s financials (pdf). Revenues saw a 24.5% annual drop for the year to record EGP 135.82 mn.

Oriental Weavers reported a net income of EGP 1.21 bn in 2021, up 8.8% y-o-y, according to its financial statement (pdf). Revenues for the year rose 20.2% y-o-y to EGP 11.40 bn.

The Egyptian International Pharma Industries (EIPICO) reported EGP 552.81 mn in net income in 2021, up 7.2% y-o-y, according to the pharma company’s financial statement (pdf). Revenues saw 19.1% y-o-y growth to record EGP 3.44 bn.

MARKET ROUNDUP-

The EGX30 fell less than 0.1% at today’s close on turnover of EGP 613 mn (39.7% below the 90-day average). Local investors were net buyers. The index is down 5.4% YTD.

In the green: GB Auto (+5.4%), Oriental Weavers (+3.2%) and Fawry (+1.8%).

In the red: CIRA (-1.7%), Heliopolis Housing (-1.6%) and Orascom Construction (-1.3%).