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Sunday, 6 May 2018

Earnings Watch: MNHD, Centamin report 1Q2018 results

EARNINGS WATCH- Madinet Nasr Housing and Development posted (pdf) a net profit after tax of EGP 313.5 mn in 1Q2018, down from EGP 407.2 mn during the same period last year. Top line was 18% lower y-o-y at EGP 610.8 mn, partially due to pre-sales reaching EGP 1.5 bn — most of which came from MNHD’s new project, Taj City. That’s down from EGP 1.8 bn during the same quarter in 2017. Contracted sales stood at EGP 1 bn during the quarter.

Gold miner Centamin reported a 122% y-o-y rise in profit in 1Q2018, which came in at USD 65.4 mn, according to a company statement (pdf). The Sukari gold mine produced 124,296 ounces of gold during the quarter at a cost of USD 581/oz.

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