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MubasherTrade forecasts growth in Egyptian sectors revenues

MubasherTrade forecasts growth in Egyptian sectors revenues
The Egyptian Exchange - (Photo Credit: Arabianeye-Reuters)

Cairo - Mubasher: All sectors in Egypt are expected to show an annual growth in revenue and earnings, according to a recent report by MubasherTrade Research (MTR).

Financials and Industrials, and Energy and Utilities are expected to contribute the most to aggregate earnings year-on-year growth by 20% and 93%, respectively, the report indicated.

Aggregate earnings are expected to increase by 21% year-on-year to EGP 6.26 billion, and to decline by 6% quarter-on- quarter based on 37 companies

Revenues are expected to grow by 18% year-on-year to EGP 45.96 billion, and to decline by -1% quarter-on- quarter, based on 38 companies.

CIB earnings are expected to grow 12% year-on-year to EGP 1.487 billion, while Elsewedy Electric earnings are expected to jump 93% year-on-year to EGP 548 million, both contributing the most to their sectors’ growth.