EARNINGS WATCH: Talaat Moustafa Group + Obourland
EARNINGS WATCH- Talaat Moustafa Group’s (TMG) consolidated bottom line after taxes and minority rights rose 19% y-o-y in 1Q2021 to EGP 447 mn, the company said in a bourse filing (pdf). The company’s topline grew 28% y-o-y during the quarter to EGP 2.9 bn.
Cheesemaker Obourland saw its bottom line increase 3% y-o-y in 1Q2021 to EGP 69.8 mn, the company said in an earnings statement (pdf). The company’s topline jumped 14% y-o-y to EGP 663.7 mn.
The EGX30 fell 1.2% at today’s close on turnover of EGP 3.87 bn (67.1% above the 90-day average). Local investors were net buyers. The index is down 5.6% YTD.
In the green: Orascom Financial Holding (+5.4%), Export Development Bank (+2.4%) and Fawry (+2.1%).
In the red: ElSewedy Electric (-4.2%), CIB (-3.5%) and Emaar (-2.6%).