Financial Results

Sales cost increased to EGP 2.58 billion in FY16/17

26 September 12:48 PM HADISOLB losses EGP 750m in FY16/17

Cairo – Mubasher: The modified financial indicators of Egyptian Iron and Steel (HADISOLB) on Tuesday showed a 21.9% year-on-year rise in losses for fiscal year 2016/2017. The firm’s losses reached EGP 750.26 million in the fiscal year ended June …

Financial Results

Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA

25 September 02:38 PM Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA

Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Monday said that the initial public offerings (IPOs) of the companies on the Saudi Stock Exchange (Tadawul) reached nine at a value of SAR 3.173 billion during the first half of 2017. …

Initial Public Offerings

Revenues increased to EGP 675.8 million in the first six month of 2017 from EGP 638.01 in the comparative period, EGAS stated

21 September 01:03 PM EGAS losses rise to EGP 53.5m in H1-17

Cairo – Mubasher: Egypt Gas Holding Company (EGAS) has reported an increase in its net losses by 12% year-on-year in the first half of 2017 on the back of higher costs. EGAS suffered an EGP 53.5 million loss in H1-17 versus EGP 47.9 million in the …

Financial Results

Alexandria Mills' profits reached EGP 59.6m FY16/17

20 September 11:34 AM Alexandria Mills' profits surge 63% in FY16/17

Cairo – Mubasher: Alexandria Flour Mills on Wednesday posted a 63% year-on-year rise in profits for fiscal year 2016/2017 due to an increase in its revenues. The EGX-listed firm achieved profits of EGP 59.6 million in the fiscal year ended June …

Financial Results

The operational profit fell 2.08% to SAR 110.84 million in H1-17 against SAR 113.2 million in the similar period in 2016

19 September 01:59 PM Alujain’s profits drop 68% in Q2

Riyadh – Mubasher: Alujain Corp. on Tuesday said its net profits declined by 67.65% to SAR 12.49 million ($3.33 million) in the second quarter of 2017 from SAR 38.61 million ($10.30 million) in the year-ago period. The operational profit decreased …

Financial Results

Year-on-year, net profits retreated to SAR 106 million, from SAR 114 million, according to a statement to the Saudi Stock Exchange (Tadawul)

17 September 05:59 PM Lower revenues push Makkah Construction profits down in Q2

Riyadh – Mubasher: Makkah Construction and Development on Sunday said its profits decreased by 7.02% year-on-year in its second quarter ended on 29 Shawwal 1438 Hijri date. Year-on-year, net profits retreated to SAR 106 million, from SAR 114 …

Financial Results

Egyptian exports to Belgium reached EUR 144m in H1-17 – Minister

16 September 06:50 PM Egyptian exports to Belgium hit EUR 144m in H1

Cairo – Mubasher: Egypt’s exports to Belgium surged 25% to reach EUR 144 million during the first half of 2017, compared to EUR 115 million in the year-ago period, the Minister of Trade and Industry Tarek Kabil said on Friday. The commercial …

Misr for Sound & Light stated on Friday that its losses were narrowed by 42% by the end of the fiscal year 2016/2017 ended on 30 June 2017

16 September 05:48 PM Misr for Sound & Light losses trim by 42% in FY16/17

Cairo – Mubasher: Misr for Sound & Light stated on Friday that its losses were narrowed by 42% by the end of the fiscal year 2016/2017 ended on 30 June 2017. The company’s losses stood at EGP 11.4 million, whereas the revenues of activities …

Estimated gross profit of units hit EGP 3.67bn during FY16/17 – Ministry

16 September 03:16 PM Estimated gross profit of units hit EGP 3.67bn during FY16/17 – Ministry

Cairo – Mubasher: The Ministry of Public Enterprise Sector said on Friday that the estimated gross profit of its subsidiaries registered a growth of EGP 2 billion during the fiscal year 2016/2017, according to a statement. Year-on-year, the …

Financial Results

UAE ranks 1st between Arab states in attracting DFI during 2016 – Ministry

16 September 01:17 PM UAE attracts $9bn FDI in 2016 – Ministry

Dubai – Mubasher: The UAE ranked first among the Arab countries in attracting the foreign direct investments (DFI) during 2016, acquiring 29% of the total, at a value of $9 billion, according to an analytical study by the UAE Ministry of Economy. …

Financial Results

The ratings company expected ADNTC’s capital levels to remain strong enough to support the potential strategic initiatives, according to a company statement

14 September 05:12 PM Abu Dhabi National Takaful eyes expansion

Abu Dhabi – Mubasher: Abu Dhabi National Takaful Co. (ADNTC) is closely observing the events taking place in the Emirati insurance market and considering expansion and acquisition opportunities, Albayan newspaper reported, citing CEO Osama Abdeen …

Financial Results

This rise in profits is attributable to lower financing costs and a growth in other revenues, the company commented

14 September 03:43 PM ERESCO profits edge up in Q3 on lower costs

Kuwait – Mubasher: Al Enmaa Real Estate (ERESCO) on Thursday reported a 4.3% year-on-year increase in profits for the third quarter of 2017, ended 31 July 2017, according to a filing to Boursa Kuwait. ERESCO registered KWD 485,350 ($1.61 million) …

Financial Results

Egypt Aluminum profits hiked 1,942% Y-o-Y in FY16/17

13 September 12:33 PM Egypt Aluminum profits skyrocket 1,942% in FY16/17

Cairo – Mubasher: Egypt Aluminum on Wednesday posted a 1,942% year-on-year hike in profits for fiscal year 2016/2017 due to a jump in its revenues. The firm achieved profits of EGP 1.73 billion in the fiscal year ended June 2017, versus EGP 84.8 …

Financial Results

Earnings increased to KWD 2.2 million ($7.3 million) in H1-17

11 September 12:58 PM KASCO H1 profits exceed KWD 2m

Mubasher: Kuwait Aviation Services (KASCO), a wholly owned subsidiary of Kuwait Airways, reported a growth of 61% in profits during the first half of 2017. Earnings increased to KWD 2.2 million ($7.3 million) in H1-17 compared to KWD 1.4 million …

Financial Results

Heliopolis Housing total sales of housing units reached EGP 76m in August

11 September 11:57 AM Heliopolis Housing sales hit EGP 76m in August

Cairo – Mubasher: Heliopolis Company for Housing and Development on Monday said that its total sales of housing units reached EGP 76.06 million in August 2017. The firm sold housing units of EGP 48.03 million and EGP 28 million in Sheraton …

Financial Results

The rise in Q3 earnings is attributed to higher profit from selling investment properties

11 September 11:04 AM Arkan Al Kuwait Q3 profits up 5.1%

Mubasher: Arkan Al Kuwait Real Estate achieved a growth of 5.1% in profits during the third quarter ended 31 July 2017. Earnings increased to KWD 2.91 million ($9.69 million) in Q3 this year compared to KWD 2.77 million ($9.22 million) in the same …

Financial Results

UAE investments in China reach $2.1bn 2016 – Ministry

9 September 04:31 PM UAE investments in China reach $2.1bn 2016 – Ministry

Dubai – Mubasher: The Ministry of Economy of the UAE on Saturday said in a statement that the country’s investments in China amounted to $2.1 billion during 2016, and the non-oil trade value stood at $46 billion. The sixth round of the mutual …

Financial Results

Arab Cotton posted a 147% y-o-y jump in standalone profits for FY16/17

7 September 01:42 PM Sales boost Arab Cotton annual profits 147%

Cairo – Mubasher: Arab Cotton Ginning’s adjusted standalone financial statements on Thursday showed a 147% year-on-year hike in profits for fiscal year 2016/2017 due to the increase in its sales. The firm achieved profits of EGP 70.42 million in …

Financial Results

The company’s sales rose by 38% to EGP 10.5 billion during FY16/17

6 September 02:54 PM Eastern Company profits rise 20% on higher sales

Cairo - Mubasher: Eastern Company’s adjusted financial statements showed a 20% year-on-year rise in profits in fiscal year 2016/2017. Profits amounted to EGP 1.77 billion during the fiscal year ended June 2017, compared to EGP 1.47 billion in the …

Financial Results

Orange Egypt's losses stood at EGP 1.44 billion in the seven months ended July 2017

5 September 12:08 PM Orange Egypt losses skyrocket 4,415% in 7M

Cairo – Mubasher: The standalone financial indicators of Orange Egypt for Telecommunications on Tuesday showed a 4,415% year-on-year hike in losses for the first seven months of 2017. The telecommunication firm’s losses stood at EGP 1.44 billion …

Financial Results

Pioneers Holding posted a 61.4% Y-o-Y drop in consolidated profits for Q2-17

30 August 01:16 PM Pioneer Holding Q2 profits plunge 61%

Cairo – Mubasher: Pioneers Holding Company for Financial Investment on Wednesday posted a 61.4% year-on-year drop in consolidated profits for the second quarter of 2017 due to an increase in its revenues. The firm achieved profits of EGP 135.23 …

Financial Results

Profitability was supported by higher yields on loans and stable funding costs

29 August 05:26 PM Profitability of 4 UAE banks remains solid in Q2 – Moody’s

Dubai – Mubasher: The solid interest income will maintain the profitability of the four largest UAE banks in the next 12 to 18 months, despite pressure on fee and commission income, Moody’s Investors Service stated on Tuesday. First Abu Dhabi Bank …

Banks acquire 41% of listed firms' profits in H1 – Report

29 August 03:51 PM Banks acquire 41% of listed firms' profits in H1 – Report

Riyadh – Mubasher: The banks listed on the Saudi Stock Exchange (Tadawul) acquired 41% of the listed firms' total profits during the first half of 2017, Albilad Capital’s report showed on Tuesday. The materials’ sector share in profits of listed …

Consolidated profits rose 33.2% Y-o-Y in H1-17

29 August 02:53 PM Mopco profits surge 33% in H1

Cairo – Mubasher: The consolidated financial statements of Misr Fertilizers Production Co (Mopco) on Tuesday showed a 33.2% year-on-year rise in profits for the first half of 2017 due to a jump in its sales. The company achieved profits of EGP …

Financial Results

Arab Cotton posted a 145% year-on-year hike in profits for FY16/17

29 August 01:27 PM Arab Cotton profits soar 145% in FY16/17

Cairo – Mubasher: The standalone financial indicators of Arab Cotton Ginning on Tuesday showed a 145% year-on-year hike in profits for fiscal year 2016/2017. The Egyptian firm achieved profits of EGP 69.9 million in the fiscal year ended June 2017 …

Financial Results