EARNINGS WATCH- Cleopatra Hospitals Group reported a 29% rise in net income to EGP 29 mn in 1Q17 as revenues advanced 24% y-o-y to EGP 262 mn, according to the company’s earnings filing (pdf). Revenue growth for the quarter was largely driving by better pricing, the company said. While pushing ahead with a number of quality, revenue retention and other initiatives, the Abraaj-backed company also signalled it is moving forward with an acquisition and the rollout of its polyclinic model. Cleopatra CEO Ahmed Ezzeldin noted “progress on expanding our hospital network, including one Cairo-based operating hospital acquisition in the documentation stage; a brownfield, 200-bed hospital in Upper Egypt and Al Shorouk hospital extension in the feasibility study stage; and the signing of a lease for our flagship polyclinic project in East Cairo expected to open in 3Q17.”

London Stock Exchange-listed Integrated Diagnostics Holdings reported a 6% rise in unaudited net profit to EGP 89 mn in 1Q17 in a trading statement released yesterday. Revenues advanced 26% to EGP 346 mn in the same period. “I am very pleased to report the Group is off to a strong operational and financial start in 2017. Our revenue growth accelerated 26% year-on-year in 1Q2017, up significantly from a fully-year rate of 15% in 2016, spurred by higher patient and test volumes and better pricing, as well as some favourable currency translation impact,” said IDH CEO Hend El Sherbini.

Orascom Construction (OC) reported (pdf) a 21.7% y-o-y increase in net income to shareholders to USD 28.0 mn in 1Q2017. OC says its revenues grew by 9.5% y-o-y to USD 1.07 bn in 1Q2017. The company also says it added USD 387.4 mn to its backlog in MENA and the US successfully. CEO Osama Bishai noted, “In the U.S., we are focused on improving our cost structure and market positioning to enhance profitability. Furthermore, we are working on converting existing sizeable committed work into our backlog while pursuing new construction opportunities.” OC’s AGM also approved the appointment of Mustafa Abdel Wadood as a non-executive director of the Company.

Cheese manufacturer Domty recorded a net loss of EGP 6 mn in 1Q2017, down from a net profit of EGP 24.1 mn in the same period last year. The drop came despite revenues growing 27% y-o-y to EGP 471.4 mn, according to the company’s earnings filing (pdf).

Ezz Steel reported a net profit of EGP 560.2 mn for the full year 2016, compared to a net loss of EGP 603.3 mn in 2015, according to a regulatory filing.

Pioneers Holding reported a net profit after tax of 318.9 mn for 1Q2017, down from EGP 354.5 mn in the comparable period last year, according to a regulatory bourse filing.