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Wednesday, 12 August 2020

Earnings Watch- AT Lease, Domty, Misr Cement Qena, Obour Land

EARNINGS WATCH- AT Lease reported EGP 35.7 mn in net profits during 1H2020, up 4.6% from EGP 34.14 mn in 1H2019, according to an EGX disclosure (pdf). The company's revenues inched down to EGP 242.5 mn over the course of 1H2020 from reported revenues of EGP 242.7 mn in 1H2019, according to the company’s earnings release (pdf).

Domty reported EGP 710.9 mn in 2Q2020 revenues, up 10% y-o-y from EGP 646.8 mn during the same period last year, according to an EGX disclosure (pdf). The company reported a 15.5% drop in profits during the quarter to EGP 31.7 mn, down from EGP 37.5 mn.

Obour Land’s 2Q2020 net profit dipped 3% y-o-y to EGP 72 mn from EGP 74.3 mn in 2Q2019, according to the company’s earnings release (pdf). On a six-month basis, Obour’s net profit grew 10% y-o-y. Revenues in 2Q2020 inched up 9% y-o-y to EGP 666.2 mn from EGP 611.7 mn, while revenues grew 5% y-o-y in 1H2020.

The National Bank of Kuwait–Egypt reported profits of EGP 753 mn in 1H2020, down 28% y-o-y from EGP 1.05 bn in 1H2019, according to its earnings release (pdf). Revenues during the period fell 7% y-o-y to 1.71 bn from 1.84 bn in the same period last year.

Misr Cement Qena posted net profits of EGP 63.25 mn in 1H2020, marking a 330% y-o-y increase from EGP 14.7 mn in 1H2019, according to an EGX disclosure (pdf).

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