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Tuesday, 15 November 2022

Earnings watch: Ibnsina Pharma, Export Development Bank,

Ibnsina Pharma’s net income after minority interest fell 50.6% y-o-y to EGP 119.60 mn in 9M 2022, according to the company’s earnings release (pdf). Net revenue during the period inched up 0.4% y-o-y to EGP 15.81 bn.

Export Development Bank of Egypt’s net income rose 125.6% y-o-y to EGP 993.5 mn in 9M2022, according to its earnings release (pdf). The bank’s net interest income rose 48.6% y-o-y to EGP 2.15 bn during the period.

MARKET ROUNDUP-

The EGX30 rose 0.01% at today’s close on turnover of EGP 593.89 mn (48.2% below the 90-day average). Local investors were net buyers. The index is up 1.6% YTD.

In the green: Rameda (+3.2%), Ibnsina Pharma (+2.5%) and Orascom Construction (+2.2%).

In the red: Fawry (-2.6%), Ezz Steel (-1.8%) and EFG Hermes (-1.6%).

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