Real estate giant SODIC’s bottom line more than doubled y-o-y in 1Q 2022 to reach EGP 226 mn, according to the company’s earnings release (pdf). Revenues for the quarter came in at EGP 1.19 bn, rising 40% y-o-y.

Meanwhile, our friends at the upmarket real estate developer delivered record first-quarter gross contracted sales in terms of both number and value of units sold. The company sold 573 units during the January-March period, doubling its gross contracted sales to EGP 3.74 bn from the same period last year. SODIC delivered 165 units during the quarter (42 in its West Cairo projects, 116 in its East Cairo projects, and seven in its North Coast projects).

The positive results point to a good year ahead: “We believe these results, in addition to our leading brand equity, diversified product offerings, and disciplined approach to management, put us on track to deliver another record year of growth for SODIC despite the economic headwinds and inflationary backdrop,” said Managing Director Magued Sherif.

Integrated Diagnostics Holdings’ (IDH) 4Q 2021 net income rose 47% y-o-y to EGP 345 mn, according to its earnings release (pdf). Revenues rose 48% during the quarter to EGP 1.46 bn. The company’s bottom line jumped 145% in 2021, hitting an all-time high of EGP 1.49 bn. Full-year revenues nearly doubled y-o-y to EGP 5.23 bn.

Revenues in Egypt — IDH’s home market — rose 89% y-o-y in 2021 to EGP 4.11 bn “on the back of solid growth in both patient and test volumes,” the release says. This growth was underpinned by covid-19 tests as well as conventional testing, alongside IDH’s house call service, which saw its revenues nearly double last year to contribute almost 23% of the company’s revenues in Egypt.

Heading into 2022, IDH is looking to capitalize on its leading market position in Egypt and Jordan, with an eye on rebounding appetite for conventional testing “as patients’ focus shifts back to conventional healthcare as the threat of covid-19 subsides,” CEO Hend El Sherbini said.

E-payments giant Fawry’s net income fell 59% y-o-y in 4Q 2021 to EGP 27.8 mn, according to the company’s earnings release (pdf). This came despite revenues rising 37% y-o-y to register EGP 467.3 mn. Fawry’s full-year bottom line dipped 5% y-o-y to EGP 177.2 mn, with revenues rising 34% y-o-y to EGP 1.66 bn.

The revenue growth came on the back of expanding microfinance and banking services, in what the fintech darling’s CEO Ashraf Sabry described as “Fawry’s strongest year yet” as performance kept up momentum seen in 2020.

Net income was hit by unspecified non-recurring items as well as the impact of the company’s “non-cash ESOP program.” Setting aside those charges, net income would have risen 13.2% year-on-year to EGP 186 mn, with a net margin of 11.2% (against 13.3% in 2020).

Fawry is eyeing a 2H2022 launch for its buy-now, pay-later service, with Sabry quoted as saying “We hope to replicate our success in microfinance with a full-fledged BNPL offering.” The company is also planning to expand its nationwide POS network, its FawryPlus branches and users of its MyFawry app, which saw total downloads reach 5 mn in 2021 from 1.7 mn at the end of the previous year. The company also expects to release its MyFawry pre-paid cards soon, he said.

Obour Land For Food Industries’ bottom line rose 30% y-o-y in 1Q 2022 to EGP 90.6 mn, the cheesemaker said in an earnings release (pdf). Revenues rose 39% y-o-y to EGP 923.8 mn during the quarter.