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Tuesday, 25 May 2021

Raya Holding is back into the green

EARNINGS WATCH- Raya reverses its net loss position in 1Q2021: Raya Holding reported a bottom line of EGP 35.8 mn in 1Q2021, reversing a EGP 68.8 mn net loss incurred in the first quarter of last year, according to its quarterly financials (pdf). This came as the topline nearly doubled to EGP 4 bn during the quarter, up from EGP 2.4 bn in 1Q2020.

Middle East Glass Manufacturing Company's bottom line more than doubled to EGP 69 mn in 1Q2021, up from EGP 31 mn in the same quarter last year, the company told the EGX.

MARKET ROUNDUP-

The EGX30 fell 2.13% at today’s close on turnover of EGP 1.24 bn (2.5% below the 90-day average). Local investors were net buyers. The index is down 2.89% YTD.

In the green: MM Group (+0.7%).

In the red: Sodic (-6.2%), ElSewedy Electric (-4.1%) and Ezz Steel (-4.1%).

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