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18 November 08:35 AM

Egypt news

Sales increased to EGP 543.18 million
17 November 05:56 PM Middle East Glass’ 9M standalone profit skyrockets 17 times
Cairo – Mubasher: The standalone financial statement of the Middle East Glass Manufacturing Co. showed a 1,724.7% year-on-year surge in its net profits during the first nine months of 2019. Net profits hiked to EGP 39.78 million in the …
Financial Results
Revenues fell to EGP 520.64 million
17 November 05:10 PM Incolease’s profit retreats to EGP 81m in 9M
Cairo – Mubasher: International Company for Leasing (Incolease) posted a 3.5% decline in its net profits during the first nine months of 2019. Net profits dropped to EGP 81.13 million in the January-September period of 2019, compared to EGP 84.08 …
Financial Results
Beltone has set the price of oil at $68 pb for FY19/20
17 November 05:00 PM Egypt forecast to keep fuel prices stable during 2020 – Beltone analyst
By: Ahmed Allam Cairo – Mubasher: The Egyptian government will likely maintain prices of petroleum products throughout 2020, a senior analyst at Beltone Financial, Alia Mamdouh, said. Mamdouh based her expectations on the global oil prices which …
Macroeconomics
The raise is subject to approvals from relevant regulators
17 November 04:37 PM ADIB’s board proposes 40% higher limit on foreign ownership
Abu Dhabi - Mubasher: The board of Abu Dhabi Islamic Bank (ADIB) has submitted a recommendation to the shareholders’ general assembly to increase the maximum limit of non-UAE national's ownership of ADIB's shares to 40%.  Therefore, the clause No. …
Law
The CBE decided to reduce interest rates by 100 bps last Thursday
17 November 04:21 PM CBE expected to cut interest rates by 3% in 2020
By: Ahmed Allam Cairo – Mubasher: Interest rates in Egypt are forecast to continue its downward trend in 2020, a senior analyst at Beltone Financial, Alia Mamdouh, said. The Central Bank of Egypt (CBE) will likely deliver another interest rate cut …
Banking and Finance
The EGP rose to record levels on the back of cutting interest rates
17 November 04:05 PM USD likely to reach EGP 15.9 in H1-20 – Beltone analyst
By: Ahmed Allam Cairo – Mubasher: The Egyptian pound exchange rate is expected to stand at EGP 15.9 against the US dollar during the first and second quarters of 2020, a senior analyst at Beltone Financial, Alia Mamdouh, said.  On the sideline of …
Macroeconomics
The North African nation’s exports fell to $1.97 billion
17 November 03:45 PM Egypt's trade deficit narrows 26% in August
Cairo – Mubasher: Egypt's trade deficit shrank by 25.8% to $3.51 billion in August, compared to $4.73 billion in the same month a year earlier, according to data released by the Central Agency for Public Mobilization and Statistics (CAPMAS) said …
Macroeconomics
Nile Pharma turned profitable in four months
17 November 03:26 PM Nile Pharma's indicators show EGP 27m profit in 4M
Cairo – Mubasher: The financial indicators of Nile Pharmaceuticals and Chemical Industries (Nile Pharma) showed a turn to profitability during the first four months of fiscal year 2019/2020. The company logged a net profit of EGP 26.6 million …
Financial Results
Net sales increased to EGP 329.58 milion
17 November 03:00 PM Ismailia Misr Poultry’s profit inches down in 9M
Cairo – Mubasher: Ismailia Misr Poultry reported a 2.8% year-on-year decrease in its net profits during the first nine months of 2019. Net profits went down to EGP 8.39 million in the January-September period, compared to EGP 8.64 million in the …
Financial Results
The company’s shareholders approved EGP 84 million in cash dividends
17 November 02:52 PM East Delta Flour Mills approves EGP 14/shr dividends
Cairo – Mubasher: Ordinary general assembly meeting (OGM) of East Delta Flour Mills (EDFM) Company has approved cash dividends for fiscal year (FY) ended 30 June 2019. The company’s shareholders approved EGP 84 million in cash dividends, at EGP 14 …
General Assembly
Americana Egypt owns a 15% stake in Cairo Poultry
17 November 02:38 PM Cairo Poultry denies impact from acquisition offer for Americana Egypt
Cairo – Mubasher: Cairo Poultry denied being affected by the offer submitted by Americana Group for Food and Touristic Projects to acquire the Egyptian Company for International Touristic Projects (Americana Egypt), according to a bourse …
Mergers and Acquisitions
The Egyptian firm logged a net profit of EGP 62.48 million
17 November 02:23 PM Egyptian Media Production City’s 9M profit edges down
Cairo – Mubasher: Egyptian Media Production City posted a slight drop in its net profits during the first nine months of 2019. The Egyptian firm logged a net profit of EGP 62.48 million in the January-September period, down from EGP 62.58 million …
Financial Results
Sarwa achieved profits of EGP 292.2 million in the first nine months of 2019
17 November 02:05 PM Sarwa Capital profits up 11% in 9M
Cairo – Mubasher: Sarwa Capital Holding for Financial Investments reported an increase in profits during the first nine months of the year by 10.9% year-on-year (YoY), as shown by the company’s consolidated financial statements. Sarwa achieved a …
Financial Results
Local sales retreated to EGP 179.93 million
17 November 01:59 PM Hadisolb’s sales shrink 40% in Q1-19/20
Cairo – Mubasher: Egyptian Iron and Steel (Hadisolb) announced that its local sales dipped by 39.5% year-on-year during the first quarter of fiscal year 2019/2020. Local sales retreated to EGP 179.93 million in the July-September period, compared …
Financial Results
The deal involved the sale of 35.289 million shares
17 November 01:40 PM Ezz Steel sells subsidiary to Al Ezz Dekheila Steel for $356m
Cairo – Mubasher: Ezz Steel announced that its shares in Al Ezz Flat Steel Co (EFS) have been sold over the counter (OTC) to Al Ezz Dekheila Steel – Alexandria for $356.066 million (EGP 5.74 billion). The deal involved the sale of 35.289 million …
Corporate Actions
Profits amounted to EGP 98.16 million in the first nine months of the year
17 November 01:20 PM Dice profits more than double in 9M
Cairo – Mubasher: Dice Sport and Casual Wear reported an increase in profits by 107% to EGP 98.16 million from January to September of 2019, compared with EGP 47.4 million in the same period last year, as shown by the company's standalone …
Sales went down to EGP 53.22 million
17 November 01:20 PM Arab Engineering Industries posts 11% profit drop in 9M
Cairo – Mubasher: Arab Engineering Industries reported an 11% year-on-year profit decrease during the first nine months of 2019. Net profits amounted to EGP 5.4 million in the January-September period, compared to EGP 6.06 million in the …
Financial Results
Cost of sales increased to EGP 736.7 million
17 November 01:12 PM Arab Dairy’s profit retreats 22% in 9M
Cairo – Mubasher: Arab Dairy Products Co. (Panda) reported a 21.9% year-on-year profit drop during the first nine months of 2019, the company’s consolidated financial results showed. The Egyptian dairy firm logged a net profit of EGP 20.64 million …
Financial Results
Revenues leapt to EGP 963.6m in 9M
17 November 12:55 PM Arabia Investments Holding’s profits slid 37% in 9M
Cairo – Mubasher: Arabia Investments Holding on Sunday announced profits worth EGP 40.5 million during the period from January to September of 2019, recording a 37% decline, compared with EGP 64.33 million in the same period last year, …
Financial Results
Net profits fell to EGP 11.26 million
17 November 12:52 PM Al Ahly for Development and Investment’s profit inches down in 9M
Cairo – Mubasher: The consolidated financial results of Al Ahly for Development and Investment showed a 4.65% year-on-year profit decline during the first nine months of 2019. Net profits fell to EGP 11.26 million in the nine-month period ended 30 …
Financial Results
Revenues increased to EGP 5.1 billion
17 November 12:39 PM Talaat Moustafa Group’s profit grows 10% in 9M
Cairo – Mubasher: The consolidated financial statement of Talaat Moustafa Group Holding (TMG Holding) posted a 9.9% year-on-year profit rise during the first nine months of 2019. Net profits grew to EGP 1.37 billion in the January-September period …
Financial Results
Net profits plummeted to EGP 32.9 million
17 November 12:24 PM Arabian Cement’s profit sinks 85% in 9M
Cairo – Mubasher: Arabian Cement Co. reported an 85% year-on-year profit drop during the first nine months of 2019, according to the company's consolidated financial statement.  Net profits plummeted to EGP 32.9 million in the January-September …
Financial Results
Net profits inched down to EGP 142.74 million
17 November 12:10 PM B Investments Holdings’ profit edges down in 9M
Cairo – Mubasher: B Investments Holdings reported a slight decrease in its net profits for the first nine months of 2019, the company’s consolidated financial statement showed. Net profits inched down to EGP 142.74 million in the nine-month period …
Financial Results
By 2020, 150 Spot locations may be provided in KSA & the UAE
17 November 12:00 PM Aramex expands delivery options via Aramex Spot in KSA, UAE
Dubai – Mubasher: Aramex has launched Aramex Spot, the latest last-mile delivery solution, in multiple locations across Saudi Arabi and the UAE, in collaboration with retail outlets to use their locations as convenient Pick-Up and Drop-Off (PUDO) …
Companies Investments
The company incurred net losses of $2.4 million
17 November 11:55 AM Naeem Holding swings to losses in 9M
Cairo – Mubasher: Naeem Holding for Investments, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), announced turning to losses, the consolidated financial statement for the first nine months of 2019 showed. The company …
Financial Results