EARNINGS WATCH- Investment company Egypt Kuwait Holding (EKH) saw its 3Q2018 revenues rise 37% y-o-y to USD 118.6 mn, the company announced yesterday (pdf). Revenue growth was driven by strong operational performance in the fertilizers and petrochemicals segment, as well as healthy growth in the energy sector. Bottom line for the quarter declined 19% y-o-y to USD 33.6 mn when factoring in the USD 18.3 mn “in non-recurring income related to capital gains on the sale of Egyptian Hydrocarbons Company. Factoring out this gain from the comparable quarter’s results, net income for Q3 2018 would record a 44% y-o-y increase.” Commenting on the results, Chairman Moataz Al Alfi said they “reflect EKH’s ability to consistently deliver year-on-year growth whether driven by on-the-ground strategic initiatives or by capitalizing on favorable economic policies [in Egypt].”

Private equity firm B Investments posted a 50% y-o-y increase in consolidated net profit of EGP 147 mn in 9M2018, according to the company’s earnings release (pdf). Revenues for the period climbed 59% y-o-y to EGP 187 mn, from EGP 118 mn during the same period last year, with the growth mainly “derived from dividend declaration and share of profits from portfolio companies, in addition to finance income.” Chairman Hazem Barakat said in a statement that the company expects its recent acquisition of a majority stake in high-end food retailer Gourmet Group to “deliver solid growth in the coming period.”

Real estate developer Talaat Moustafa Group Holdings (TMG) reported a 12.5% increase in net profit to EGP 1.25 bn in 9M2018, up from EGP 1.1 bn in the same period last year, according to an EGX disclosure (pdf). TMG’s revenues jumped to EGP 6.8 bn in 9M2018, a 21% increase y-o-y from EGP 5.6 bn.

State-owned fixed-line monopoly Telecom Egypt reported a net profit after tax of EGP 1.48 bn in 3Q2018, up 50% y-o-y from EGP 960 mn in 3Q2017, according to the company’s earnings release (pdf). Revenues for the period were up 65% y-o-y to EGP 7.23 bn from EGP 4.39 bn in 3Q2017, driven by spiraling demand for data services and the company’s recent agreement to allow Bharti to use part of its MENA and TE North cable systems was among its top revenue drivers, it notes.