EARNINGS WATCH-

• Edita reported a net loss of EGP 1.7 mn in 2Q2017 down from a net profit of EGP 41.6 mn in the similar period last year. Despite the bottom line loss, Edita’s revenues continued to grow, recording an 11.2% y-o-y increase to EGP 611.6 mn. For 1H2017, Edita registered a net profit of EGP 38.7 mn, down 47.9% y-o-y. The company says “inflationary pressures on the company’s cost base along with higher interest expenses weighed down on Edita’s bottom-line profitability for the quarter… Edita’s continued ability to deliver double-digit revenue growth, despite operating in an exceptionally challenging environment and during the trough of industry seasonality, is a direct consequence of management’s early roll-out of its repricing and portfolio optimization strategy starting late 2015.”

• Credit Agricole Egypt reported a 49.4% y-o-y increase in 1H2017 consolidated net profit after tax to EGP 941.7 mn, according to a filing with the EGX.