Iron and Steel for Mines & Quarries (ISMQ) reported a pre-tax net income of EGP 26.5 mn during 1H2021, according to its maiden bourse filing (pdf) reporting its earnings. The company’s revenues reached EGP 43 mn during the first six months of the year. Formerly part of Egyptian Iron and Steel, ISMQ was created after the government decided to liquidate the loss-making state-owned firm as part of a strategy to streamline the public sector. The company first listed on the EGX at the end of May this year. It did not disclose its net earnings nor a quarterly breakdown of its first-half financials.

Faisal Islamic Bank of Egypt saw its net income rise more than 50% y-o-y to EGP 518.8 mn in 2Q2021, up from EGP 343 mn in 2Q2020, according to the bank’s financials (pdf). Net interest income increased by over 30% y-o-y to around EGP 1.4 bn, from EGP 1 bn last year.

MARKET ROUNDUP-

The EGX30 fell 0.1% at today’s close on turnover of EGP 1.65 bn (12% above the 90-day average). Foreign investors were net sellers. The index is up 2.5% YTD.

In the green: Heliopolis Housing (+4.9%), Raya Holding (+4.1%) and Cleopatra Hospitals (+3.7%).

In the red: Speed Medical (-5.1%), Pioneers Holding (-3.3%) and GB Auto (-1.9%).