Financial Results

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22 May 04:17 PM PetroGulf incurs losses in Q1-17
Kuwait – Mubasher: Gulf Petroleum Investment (PetroGulf) suffered a loss of KWD 2.3 million ($7.6 million) during the first quarter of 2017, against profits worth KWD 4.3 million ($14.1 million) in the same period of the prior year. The company …
Investors at Dubai's bourse (Photo Credit: Arabianeye-Reuters)
22 May 12:11 PM UAE-listed investment firms post lower profits in Q1
By: Mahmoud Gamal Dubai – Mubasher: UAE-listed investment companies posted a 16.5% year-on-year decline in profits during the first quarter of 2017, weighed down by the fall of revenues and difficulty in financing due to higher interest rates. …
(Photo credit: Arabianeye - Reuters)
22 May 12:05 PM Arab for Development Q1 profits fall 27%
Cairo – Mubasher: Arab for Development and Real Estate Investment’s profits for the first quarter of fiscal year 2017 declined 26.5% to EGP 733,700, compared to EGP 998,300 for Q1-16. Revenues for Q1-17 increased to EGP 5.8 million from EGP 3.8 …
The Egyptian Exchange (Photo credit: Mubasher)
22 May 11:33 AM Citadel Capital losses rise 355% in FY16
Cairo – Mubasher: Citadel Capital posted on Monday an increase of 355% in its consolidated net loss for fiscal year 2016 to EGP 5.58 billion, compared to EGP 1.22 billion for FY15. Expenses decreased in FY16 to EGP 797 million from EGP 1.76 …
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22 May 11:16 AM Al Kout profits grow 10.7% in Q1
Kuwait – Mubasher: Al Kout Industrial Projects achieved a rise of 10.7% in profits during the first quarter of 2017. The earnings increased to KWD 1.76 million ($5.78 million) in Q1-17 from KWD 1.59 million ($5.22 million) in Q1-16, according to a …
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21 May 04:46 PM Qatar budget deficit to reach 1.5% in 2017 – QNB
Doha – Mubasher: Qatar’s budget deficit is expected to decrease to 1.5% of the gross domestic product (GDP) in 2017 from 7.2% in 2016, according to a report by Qatar National Bank (QNB) on Sunday. It is also expected that the deficit will turn …
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21 May 03:29 PM Arab Polvara widens losses in Q1-17
Cairo - Mubasher: Arab Polvara Spinning and Weaving reported a jump in losses by 1,209% year-on-year in the first quarter of 2017, as shown by the company’s financial statements. The company said in a statement to the Egyptian Exchange (EGX) on …
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21 May 01:54 PM Egypt Free Shops targets EGP70m profits next year
Cairo - Mubasher: Egypt Free Shops said that its preliminary budget for fiscal year 2017-2018 targets estimates a decline in net profits by 17.7% year-on-year, according to a bourse filing. The company said in a statement to the Egyptian Exchange …
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21 May 01:27 PM General Land Reclamation narrows losses in 9M
Cairo - Mubasher: General Company for Land Reclamation, Development and Reconstruction reported a decline in losses by 46.5% in the nine-month period that ended on 31 March 2017, as shown by the company’s financial statements. The company said in …
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21 May 01:07 PM Medical Packaging turns profitable in Q1
Cairo - Mubasher: The financial statements of Medical Packaging Company showed it achieved profits of EGP 1.03 million in the first quarter of 2017 against losses of EGP 75,400 in the same period last year. Sales increased to EGP 7.06 million in …
(Photo Credit: Mubasher)
21 May 12:46 PM UAE listed property firms see lower profits in Q1
By: Mahmoud Gamal Dubai – Mubasher: The UAE listed real estate companies reported a 21.9% year-on-year decline in its profits during the first quarter of 2017, according to the listed firms’ quarterly financial statements. Profits reached AED 2.74 …
(Photo credit: Arabianeye - Reuters)
21 May 12:46 PM Arab Moltaqa Q1 profits down 34%
Cairo – Mubasher: Arab Moltaqa Investments’ consolidated profits for the first quarter of fiscal year 2017 declined 33.8% to EGP 11.5 million, compared to EGP 17.38 million for Q1-16. Consolidated revenues increased in Q1-17 to EGP 170.9 million …
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21 May 12:37 PM Al Ahly Investment Q1 profits down 64%
Cairo - Mubasher: The consolidated financial statements of Al Ahly for Development and Investment showed a drop in profit by 64% in the first quarter of 2017, according to a bourse filing. The company said in a statement to the Egyptian Exchange …
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21 May 12:24 PM Bitumode turns to losses in Q1
Cairo - Mubasher: The independent financial statements of Modern Waterproofing (Bitumode) showed that the company has achieves losses of EGP 6.1 million in the first quarter of 2017 versus profits of EGP 1.9 million in Q1-16. According to the …
(Photo credit: Company's website)
21 May 11:42 AM Cairo Oils suffers EGP 5.6m losses in 9M
Cairo – Mubasher: Cairo Oils and Soap posted on Sunday a net loss of EGP 5.6 million for the first nine months of fiscal year 2016/2017, against a net profit of EGP 92.7 million for the same period of FY15/16. Revenues for the first nine months of …
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21 May 10:26 AM Raydan Q1 profits drop 61%
Riyadh – Mubasher: Raydan Co, listed on Nomu-Parallel Market, reported a decline of 61.4% in its net profits for the first quarter of 2017. Net profits reached SAR 4.58 million in Q1-17 compared to SAR 11.86 million in the year-ago period, …
(Photo Credit: Arabianeye-Reuters)
18 May 03:58 PM Profits of ADX-listed companies jump 27.5% in Q1
By: Bedour Al Raey Abu Dhabi – Mubasher:  The listed companies in the Abu Dhabi Securities Exchange (ADX) showed a 27.5% growth in net profits in the first quarter of 2017. The net profit of the 61 local companies which announced their financial …
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18 May 12:13 PM Kuwait’s banks post higher profits in Q1-17
By: Eman Ghaly Kuwait – Mubasher: The banks sector listed on Boursa Kuwait reported a growth of 6% in profits during the first quarter of 2017 as compared to the same period in the prior year. The twelve-bank segment posted profits worth about KWD …
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18 May 11:04 AM Elsaeed Contracting OGM approves bonus shares
Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company’s ordinary general meeting (OGM) agreed to distribute bonus shares to raise the issued capital and write off the remaining incentive stock. The OGM approved to reduce the …
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18 May 11:00 AM El Kahera Housing quarterly profits down 28.5%
Cairo – Mubasher: El Kahera Housing’s profits for the first quarter of fiscal year 2017 declined by 28.5% year-on-year. Net profit for Q1-17 reached EGP 30.16 million, compared to EGP 42.2 million for Q1-16, according to a bourse filing released …
(Photo Credit: Company website)
18 May 10:26 AM Equipment Holding trims Q1 losses by 12%
Kuwait – Mubasher: Equipment Holding on Thursday announced a 12.4% drop in its losses for the first quarter of 2017, compared to the year-ago-period. Losses stood at KWD 354,460 ($1.16 million) in Q1-17, compared to KWD 404,490 ($1.33 million) in …
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18 May 08:55 AM Vodafone Qatar trims Q4 losses 59%
Doha – Mubasher: Vodafone Qatar reported a 59.4% decrease in its losses for the fourth quarter of 2017 ended 31 March, compared to the year-ago-period. Losses amounted to QAR 73.18 million ($20.08 million) in Q4-16, compared to QAR 180.01 million …
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17 May 03:27 PM Transfer volume between banks drops 2% in 4M – UAE C.Bank
Abu Dhabi – Mubasher: The value of transfers between operating banks in the UAE declined 2% or AED 66.87 billion in the first four months in 2017, according to statistics by the Central Bank of the UAE. The value of these transfers amounted to AED …
(Photo Credit: Company website)
17 May 02:23 PM Tokio Marine reduces losses to 3% after capital cut
Riyadh – Mubasher: Al Inma Tokio Marine Company’s accumulated losses retreated to 2.966% after capital cut to reach SAR 8.87 million, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday. The Saudi-listed company …
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17 May 01:22 PM Qatar banks’ bonds abroad reach QAR 34.5bn
Doha – Mubasher: The Qatar Central Bank (QCB) on Wednesday announced that the value of Qatari banks’ bonds issued abroad reached QAR 34.51 billion by the end of the first quarter of 2017. In Qatar, the value of issued bonds from banks amounted to …