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Tuesday, 2 August 2016

2Q2016 earnings roundup: Juhayna, Sidi Kerir, Heliopolis Housing, Egyptian Gulf Bank

** Earnings watch: ‘Tis the season, folks. Among the companies reporting earnings yesterday:

  • Juhayna’s consolidated 2Q2016 net profit fell c. 54% y-o-y to EGP 30 mn on revenues of EGP 1.33 bn. The company’s top line climbed c. 21% y-o-y, according to a company statement.
  • Sidi Kerir Petrochemicals reported 1H2016 net profit of EGP 409.6 mn, down 2.87% y-o-y, according to an EGX statement. Revenues hit EGP 1.36 bn, falling 3.71% y-o-y.
  • Heliopolis Housing’s FY2015-16 net profit soared 95.7% y-o-y to EGP 400.6 mn, while revenues hit EGP 657.8 mn, up 36.8% y-o-y, according to an EGX statement.
  • Egyptian Gulf Bank’s standalone net profits climbed 99.6% y-o-y to EGP 240.6 mn in 1H16, according to an EGX statement. The bank will open 13 new branches within the next two months, adding to the current 21.

This week is merely the warm-up. Look for a flood of earnings next week and early the week after.

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