• Thursday, 9 May 2019

    Earnings watch: Edita, MNHD report 1Q2019 results

    EARNINGS WATCH- Edita net profit increases 87.8% y-o-y in 1Q2019: High-profile snack food maker Edita recorded an 87.8% y-o-y increase in net profit for 1Q2019 to EGP 114.3 mn, according to the company’s earnings release (pdf). Revenues from the quarter...
  • Sunday, 27 January 2019

    SODIC calls off all-share acquisition of MNHD

    M&A WATCH- SODIC calls off all-share acquisition of MNHD: Upmarket real estate developer SODIC will not submit a mandatory tender offer to acquire at least 51% of Madinet Nasr Housing and Development (MNHD) through a direct share swap, according to...
  • Monday, 17 December 2018

    Earnings Watch: SODIC reports 44% y-o-y net profit growth in 3Q2018

    EARNINGS WATCH- SODIC reported 44% y-o-y growth in its bottom line to EGP 238 mn in 3Q2018 with a strong net profit margin of 26%, the company said in its earnings release (pdf). Revenues reached EGP 909 mn for the...
  • Monday, 10 December 2018

    SODIC enters EGP 800 mn settlement agreement with IGA

    SODIC enters EGP 800 mn settlement agreement with IGA: Leading real estate developer SODIC has agreed to pay EGP 800 mn in a settlement with a state agency to avoid “entering into lengthy legal disputes,” the company said yesterday (pdf)....
  • Thursday, 25 October 2018

    Egypt real estate giants SODIC, MNHD release operational updates as they push ahead with merger

    ** #3 M&A WATCH- Real estate giants SODIC and MNHD release operational updates. The two players in what we believe is Egypt’s largest-ever domestic merger issued operational updates yesterday as the transaction chugs toward a potential end-of-year close: SODIC sees...

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