EARNINGS WATCH-

Prime Holding narrowed its losses in 2Q 2022 to EGP 10.14 mn, from EGP 14.88 in the same quarter last year, according to the company’s earnings release (pdf). The company’s revenues dipped 3.5% y-o-y during the quarter to EGP 22.78 mn.

MM Group reported a 40.6% y-o-y drop in its 1H 2022 net income to EGP 144 mn, according to its earnings release (pdf). The company’s consolidated revenues in the first six months of the year fell 25.1% y-o-y to EGP 3.62 bn.

Cheesemaker Domty achieved a net income of EGP 60.73 mn y-o-y in 2Q 2022, reversing a net loss of EGP 29.12 mn in 2Q 2021, according to the company’s financial statements (pdf). Its sales rose 72% y-o-y in the second quarter of the year to EGP 1.15 bn.

Juhayna’s bottomline fell 9.6% y-o-y in 2Q 2022 to EGP 174.53 mn, the company’s earnings release (pdf) showed. The juice and dairy maker’s sales rose 24% y-o-y during the quarter to EGP 2.76 bn.

Heliopolis Housing and Development’s 2Q 2022 bottom line shot up 290% y-o-y to EGP 639.88 mn, according to the company’s financials (pdf). Revenues for the quarter soared 335% y-o-y to record EGP 1.51 bn.

MARKET ROUNDUP-

The EGX30 fell 0.7% at today’s close on turnover of EGP 1.52 bn (47.7% above the 90-day average). Local investors were net buyers. The index is down 17.0% YTD.

In the green: Egyptian Kuwaiti Holding-EGP (+1.0%), GB Auto (+0.9%) and Ibnsina Pharma (+0.9%).

In the red: Housing and Development Bank (-3.1%), Ezz Steel (-3.0%) and Rameda (-3.0%).