EARNINGS WATCH- Raya Holding sees revenue growth and narrowing losses in 9M2020: Raya losses eased to EGP 53.6 mn during 9M2020 from EGP 58.1 mn a year earlier, according to a company earnings release (pdf). The company saw revenues reach EGP 7.56 bn in the first nine months of the year, up 16% y-o-y from EGP 6.52 bn a year earlier.

Allianz Egypt reported EGP 490 mn in net profits in FY2019-2020 on revenues of EGP 5.35 bn, according to a press release (pdf). The insurance company saw its life assurance products grow 35% during the year, while its property and casualty insurance business grew 29%.

Prime Holding’s net losses jumped to EGP 3.4 mn in 3Q2020 from EGP 200k in 3Q2019, according to a company earnings release (pdf). The company also fell into the red during 9M2020, reporting EGP 17.3 mn in losses after recording a EGP 4.2 mn profit last year. Revenues grew 23% to EGP 24.7 mn.

Al Baraka Bank Egypt reported EGP 1.13 bn in net profits in 9M2020, up from EGP 863.64 mn reported during the same period last year, according to a company earnings release (pdf).

Domty net profits fell 18.5% in 3Q2020 to EGP 41.3 mn from EGP 50.7 mn last year, according to the company’s earnings release (pdf). Revenues for the period reached EGP 724.1 mn, compared to EGP 720.2 mn a year ago.

AT Lease’s net profits inched up to EGP 55.24 mn in 9M2020 from EGP 52.05 mn last year, according to an EGX disclosure.

EIPICO reported a 41.1% y-o-y decline in 9M2020 net profits, coming in at EGP 281.52 mn compared to EGP 478.33 mn last year, according to an earnings release (pdf). Revenues fell 15.6% over the period to EGP 2.08 bn from EGP 2.46 bn last year.

The National Bank of Kuwait’s net profits inched down to EGP 1.10 bn in 9M2020 from EGP 1.66 bn last year, according to an EGX disclosure.

MM Group reported EGP 299.78 mn in net profits in 9M2020, down from EGP 370.05 mn last year, according to an EGX disclosure.