EARNINGS WATCH-

Prime Holding’s bottom-line losses widened further in 1Q2022 to EGP 17.5 mn compared to EGP 11.4 mn in 1Q2021, according to an earnings release (pdf). Revenues fell 38% in 1Q2022 to EGP 20.1 mn.

GlaxoSmithKline saw its bottom line soar 449.3% y-o-y in 2021 to EGP 154.63 mn, according to the pharma company’s financials (pdf). Sales dipped 9.1% y-o-y to EGP 1.8 bn.

Beltone Financial’s net income rose 0.8% y-o-y to EGP 3.84 mn in 1Q2022, according to the firm’s financial statement (pdf). Revenues for the quarter rose 9.5% y-o-y to EGP 107.26 mn.

EGBank posted EGP 197.41 mn in net incoming 1Q2022, rising 23.7% y-o-y, according to its financials (pdf). Interest income rose 2.5% to EGP EGP 678.47 mn.

MARKET ROUNDUP-

The EGX30 rose 0.2% at today’s close on turnover of EGP 724 mn (13.2% below the 90-day average). Local investors were net buyers. The index is down 15.4% YTD.

In the green: Madinet Nasr Housing (+3.5%), TMG Holding (+3.3%) and AMOC (+2.5%).

In the red: E-finance (-1.8%), EFG Hermes (-1.5%) and Ibnsina Pharma (-1.0%).