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Thursday, 31 March 2022

Earnings watch: OIH, Domty, Arabia Investments Holding

EARNINGS WATCH-

Orascom Investment Holding saw a bottom line of EGP 564.0 mn in FY2021 compared to losses of EGP 103.22 mn in FY2020, according to the company’s financials (pdf). Revenues rose 495.2% y-o-y to EGP 27.92 mn in 2021.

Domty’s bottom line fell 54% y-o-y to EGP 72.4 mn in 2021, according to the company’s financials (pdf). This came despite a 12% y-o-y increase in sales to EGP 3.4 bn as costs increased during the year.

Arabia Investments Holding’s bottom line increased 7.6% y-o-y to EGP 102.81 mn in 2021, according to the company’s financials (pdf). Operating revenues rose 5.0% y-o-y to EGP 1.69 bn in 2021.

MARKET ROUNDUP-

The EGX30 fell 0.01% at today’s close on turnover of EGP 1.22 bn (20.4% above the 90-day average). Local investors were net Sellers. The index is down 6% YTD.

In the green: Orascom Construction (+5.0%), Qalaa Holding (+4.9%) and GB Auto (+3.6%).

In the red: EKH (-4.4%), AMOC (-4.4%) and Medinet Nasr Housing (-2.7%).

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