Back to the complete issue
Wednesday, 10 June 2020

Earnings watch: Ibnsina Pharma, Emaar Misr

EARNINGS WATCH- Ibnsina Pharma has reported a 19.8% increase in 1Q2020 net profits to EGP 50.3 mn, from EGP 42 mn in the same period last year, it said in its earnings report (pdf). Revenues for the quarter jumped 19.2% to EGP 4.4 bn from EGP 3.7 bn in 1Q2019. Demand has been “resilient” in the face of covid-19 given the “strongly defensive nature of Egypt’s pharma market,” CEO Omar Abdel Gawwad said. The company has withdrawn its earnings guidance due to uncertainty here and abroad but expects the market to recover during the second half of the year, Abdel Gawwad said.

Emaar Misr profits down 42% in 1Q2020: Emaar Misr profits fell by 42% in the first quarter of 2020, extending a losing streak that saw profits fall 50% last year, according to a disclosure to the EGX yesterday. The company reported net income of EGP 215.8 mn during the first three months of the year, down from EGP 418.6 mn in 1Q2019.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.