EARNINGS WATCH- Egypt Kuwait Holding 3Q profit up 15% y-o-y: Egypt Kuwait Holding (EKH) a net profit of USD 38.2 mn in 3Q2019, up 15% from USD 33.6 mn a year earlier, according to a company earnings release (pdf). Revenues rose 19% during the quarter to reach USD 141.1 mn. Growth came from “successes across EKH’s segments and subsidiaries, driven by a multitude of operational developments” in its gas and fertilizers and petrochemicals arms. One a nine-month basis, EKH’s profits rose to USD 110.1 mn on revenues of USD 414 mn.

Outlook: EKH is optimistic about the final quarter of the year thanks to its healthy performance during the past nine months, which has “already surpassed its analyst consensus.” With the company’s strong net income in 3Q2019 and “with prospects continuously rising on the back of diverse operational growth strategies, we remain confident in our ability to deliver consistently increasing shareholder value,” said Chairman Moataz Al Alfi.

Palm Hills Developments’ (PHD) net profit after tax and minority interest dropped 54% y-o-y in 3Q2019 to EGP 93 mn, down from EGP 200 mn last year, the company said in a bourse disclosure (pdf). Revenues also halved during the quarter to reach EGP 1.1 bn. PHD’s 9M2019 net profits declined 15% y-o-y to EGP 544 mn, with revenues coming in at EGP 3.6 bn, a 36% y-o-y drop.

B Investments reported net profits of EGP 37.4 mn in 3Q2019, up from EGP 35.8 mn during the same period last year, according to its financial statements (pdf). B Investments is an active growth capital investor managed by BPE Partners.

Arabia Investments Holding’s (AIH) net profits dropped to EGP 7.4 mn in 3Q2019, from EGP 17.4 mn in 3Q2018, while revenues increased to EGP 321 mn from EGP 315 mn last yea, the company said in a bourse disclosure (pdf). The company’s 9M2019 profits dropped 37% to EGP 40.5 mn from EGP 64.3 mn in 9M2018 and revenues fell by 3% to EGP 969 mn from EGP 999 mn in 9M2018.

Porto Group’s 3Q2019 profits plunged to EGP 11.2 mn from EGP 62.7 mn, while revenues during the quarter rose to EGP 587.26 mn from EGP 496.9 mn last year, the company’s financial statements showed (pdf). Net profits during the first nine months of the year also fell to EGP 91.3 mn from EGP 115.8 mn.

Eastern Company reported profits of EGP 1 bn in 3Q2019 up from EGP 991 mn in the same quarter last year, while revenues grew to EGP 3.7 bn from EGP 3.4 bn in 3Q2018, the company said in a bourse disclosure (pdf).

Arabian Cement reported a EGP 7.59 mn net profit in 3Q2019, up from EGP 2.07 mn in the same period last year, according to the company’s quarterly financial statement (pdf). Despite the positive quarter, profits largely collapsed during the rest of the year: The company has made EGP 32.97 mn in profit during the first nine months of the year, significantly down from the EGP 214.86 mn made in the equivalent period in 2018.

Naeem Holding made a net loss of USD 2.16 mn in 3Q2019, down from the USD 972k loss made in the same quarter in 2018, according to the company’s quarterly financials (pdf). Naeem is USD 2.4 mn in the red for the first nine months of 2019, compared to the USD 1.46 mn profit made in 9M2018.