EARNINGS WATCH- EFG Hermes reported a net profit after tax and minority interest from continued operations of EGP 395 mn in 2Q2017, up 718% y-o-y. EFG Hermes said its operating revenues increased by 252% to cross the EGP 1 bn in 2Q2017. “Our strategy to diversify our lines of business has started to create significant value for our shareholders as our non-bank financial operations continued their stellar growth trajectory, with revenues from the platform more than doubling year-on-year in the second quarter … Meanwhile, our frontier markets and structured products businesses began contributing to our brokerage revenues during the second quarter,” CEO Karim Awad commented.

Beltone Financial reported a 123% y-o-y increase in net profit after taxes and minority interest in 1H2017 to EGP 9.3 mn. Operating revenue was up 486% y-o-y in 1H2017 to EGP 326.2 mn.

Domty reported a 42% y-o-y plunge in net income to EGP 12 mn in 2Q2017 in the latest sign of tough times for consumer names in Egypt. Net sales rose 17.1% y-o-y to EGP 487.1 mn in 2Q2017 compared to the same period last year. “The third quarter of 2017 represents an important measure of sales volume in the absence of significant events affecting the volume of sales. Accordingly, the expenses will be restructured according to the sales volume in the third quarter,” Domty Vice Chairman Mohamed Damaty says, suggesting that cost cutting may be in order after the third quarter if the market doesn’t pick up.

Orascom Telecom Media and Technology Holding reported a consolidated net profit of EGP 359.3 mn in 1H2017, up from EGP 8 mn the same period last year. The company also reported consolidated operating revenues (pdf) of EGP 751 mn in 1H2017. OTMT’s board approved spending USD 10 mn on developing and managing the Sound and Light Show at the Pyramids in partnership with Prisme International, Reuters reports.

Orascom Development Egypt (previously Orascom Hotels and Development) recorded a net profit attributable to shareholders of EGP 85.6 mn in 2Q2017 from a net loss of EGP 9.3 mn in 2Q2016. The company’s revenues increased to EGP 599.9 mn in 2Q2017 from EGP 334.1 mn a year earlier.

Telecom Egypt reported a 22% y-o-y increase in consolidated net profit after tax in 2Q2017 to EGP 1.27 bn, according to an EGX filing (pdf). Consolidated revenues recorded EGP 4.64 bn in 2Q2017, a 41% y-o-y increase.