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19 May 12:36 PM EFG Hermes' OGM nods to EGP 973m capital raise via bonus shares

Cairo – Mubasher: The ordinary general meeting (OGM) of Egyptian Financial Group Hermes Holding (EFG Hermes) has approved an increase by EGP 973.07 million in the issued and paid-up capital to EGP 5.83 billion from EGP 4.86 billion via bonus …

General Assembly

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19 May 12:02 PM MNHD's profits up 5% in Q1-22 initial results

Cairo – Mubasher: The initial financial results of Madinet Nasr Housing and Development (MNHD) recorded a 5.10% year-on-year (YoY) increase in consolidated net profits to EGP 120.33 million in the first quarter (Q1) of 2022 from EGP 114.49 …

Financial Results

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19 May 11:01 AM EMPC sees rise in Q1-22 standalone profits

Cairo – Mubasher: The standalone net profits of the Egyptian Media Production City Co (EMPC) jumped to EGP 46.94 million in the first quarter (Q1) of 2022, compared to EGP 30.40 million in the same period in 2021. The company generated revenues of …

Financial Results

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18 May 10:58 AM Orascom Development Egypt sees 6% higher profits in Q1-22

Cairo – Mubasher: The consolidated net profits of Orascom Development Egypt (ODE) rose by 5.7% to EGP 463.70 million in the first quarter (Q1) of 2022, compared to EGP 438.46 million in the same period of 2021, including minority shareholders' …

Financial Results

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16 May 04:41 PM Elsewedy Electric launches 1st busway dielectric system facility in Africa

Cairo – Mubasher: Elsewedy Electric Co has established Africa's first busway dielectric epoxy insulation system facility to prefabricate electrical distribution, using bus bars in a protective enclosure. With short circuits, distribution of loads, …

Companies Investments

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16 May 01:05 PM Raya Holding's unit to establish EGP 1bn new company

Cairo – Mubasher: Raya Holding for Financial Investment has authorised its subsidiary Raya Distribution to proceed with the establishment of a new company for electronic trading and distribution. The company's authorised capital is valued at EGP 1 …

Companies Investments

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16 May 12:00 PM Raya Holding's profits hike 50% in Q1-22

Cairo – Mubasher: The consolidated net profits of Raya Holding for Financial Investment increased by 49.6% to EGP 53.58 million in the first three months (3M) of 2022, compared to EGP 35.80 million in the same period of 2021. The company's …

Financial Results

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16 May 11:38 AM Misr Cement posts 161% higher profits in Q1-22

Cairo – Mubasher: Misr Cement - Qena registered a 161.48% year-on-year (YoY) rise in the consolidated net profits to EGP 80.85 million in the first quarter (Q1) of 2022, compared to EGP 30.92 million in the same period of 2021. The company …

Financial Results

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16 May 11:12 AM Edita's profits up 57% in Q1-22 unaudited financials

Cairo – Mubasher: The consolidated net profits of Edita Food Industries jumped by 57% year-on-year (YoY) to EGP 162.42 million in the first quarter (Q1) of 2022, compared to EGP 103.48 million, according to the company's unaudited financials. The …

Financial Results

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16 May 10:31 AM Al Baraka Bank-Egypt sees 37% higher profits in Q1-22

Cairo – Mubasher: The consolidated net profits of Al Baraka Bank-Egypt increased by 37% to EGP 369.38 million in the first quarter (Q1) of 2022, compared to EGP 269.31 million in the same period of 2021. The bank's net interest income amounted to …

Financial Results

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15 May 04:57 PM GSK Egypt's profits skyrocket 454% in 2021; dividends proposed

Cairo - Mubasher: The unaudited consolidated financials of GlaxoSmithKline (GSK Egypt) reported a 454 surge in net profits to EGP 155 million in 2021 from EGP 28 million in 2020. The company's sales retreated by 9% to EGP 1.81 billion in 2021, …

Financial Results

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15 May 04:43 PM EBE's profits hike 139% in Q1-22

Cairo – Mubasher: The consolidated net profits of Export Development Bank of Egypt (EBE) jumped by 139% year-on-year (YoY) to EGP 301.89 million in the first quarter (Q1) of 2022 from EGP 126.23 million, including minority shareholders' rights. …

Banking and Finance

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15 May 03:15 PM EG Bank's standalone profits rise 24% in Q1-22

Cairo – Mubasher: The Egyptian Gulf Bank (EG Bank) reported a 24% year-on-year (YoY) rise in its standalone net profits to EGP 197.4 million in the first quarter (Q1) of 2022 from EGP 159.57 million, according to the bank's initial financials for …

Banking and Finance

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15 May 02:30 PM AMOC posts surge in 9M-21/22 profits

Cairo – Mubasher: The consolidated net profits of Alexandria Mineral Oils Company (AMOC) skyrocketed to EGP 761.98 million in the first nine months (9M) of fiscal year (FY) of 2021/2022 from EGP 103.31 million in the year-ago period. The company's …

Financial Results

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15 May 01:59 PM Mopco registers higher standalone profits in Q1-22

Cairo – Mubasher: The standalone net profits of Misr Fertilizers Production Company (Mopco) rose to EGP 2.03 billion in the first three months (3M) of 2022, compared to EGP 289.28 million in the year-ago period. The company's sales jumped to EGP …

Financial Results

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15 May 01:16 PM Credit Agricole Egypt's profits up 30% in Q1-22

Cairo – Mubasher: Credit Agricole Egypt recorded a 29.86% year-on-year (YoY) increase in the consolidated net profits to EGP 491.54 million in the January-March period of 2022 from EGP 378.52 million, according to the bank's initial financials. …

Banking and Finance

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15 May 12:48 PM Raya Contact Center's profits up in Q1-22

Cairo – Mubasher: The consolidated net profits of Raya Contact Center increased to EGP 6.61 million in the first quarter (Q1) of 2022, compared to EGP 2.04 million in the year-ago period. The company generated revenues of EGP 252.17 million in the …

Financial Results

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15 May 11:44 AM ADIB Egypt posts 34% higher unaudited profits in Q1-22

Cairo – Mubasher: The unaudited consolidated net profits of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) jumped by 33.7% year-on-year (YoY) to EGP 444.29 million in the first quarter (Q1) of 2022 from EGP 332.22 million. The bank's net interest …

Financial Results

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15 May 10:53 AM e& acquires 10% in Vodafone Group

Abu Dhabi – Mubasher: e& has acquired a 9.8% stake in the issued share capital of Vodafone Group in exchange for $4.4 billion. The UAE-based company has purchased around 2.76 billion shares in Vodafone to benefit from the expertise of the …

Companies Investments

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12 May 11:08 AM Spinalex turns to profitability in 9M

Cairo – Mubasher: Alexandria Spinning and Weaving (Spinalex) has achieved net profits of EGP 16.75 million in the first nine months (9M) of fiscal year (FY) 2021/2022, against net losses of EGP 19.40 million in the year-ago period. The company …

Financial Results

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11 May 06:13 PM NileSat's profits cross $7m in Q1-22 unaudited financials

Cairo – Mubasher: The Egyptian Satellites Company (NileSat) has recorded net profits of $7.27 million during the first quarter (Q1) of 2022, lower than $15.30 million in Q1-21. Revenues settled at $25.04 million in the first three months (3M) of …

Financial Results

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11 May 10:37 AM Arab Cotton Ginning posts 14% higher profits in 9M

Cairo – Mubasher: The standalone net profits of Arab Cotton Ginning Company rose by 14% year-on-year (YoY) to EGP 31.65 million in the first nine months (9M) of fiscal year (FY) 2021/2022 from EGP 27.76 million. The company generated revenues of …

Financial Results

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10 May 04:46 PM Maridive’s EGM nods to 6% authorised capital cut

Cairo- Mubasher: The extraordinary general meeting (EGM) of Maridive & Oil Services approved to reduce the authorised capital to $940.51 million, according to a bourse disclosure on Tuesday. The company will decrease the capital by 5.94% from $1 …

Management Decisions

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9 May 05:52 PM Zahraa Maadi’s stock sees over EGP 77.5m block trading deal

Cairo - Mubasher: Zahraa Maadi Investment and Development has witnessed a block trading transaction worth EGP 77.68 million on 8 million of its shares, the Egyptian Exchange (EGX) announced on Monday. Last April, the company recorded a block …

Trading Activities

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8 May 04:19 PM ASCOM’s losses deepen in 2021

Cairo – Mubasher: Asec Company for Mining (ASCOM) has suffered consolidated net losses of EGP 90.89 million during in 2021, higher than EGP 71.72 million in 2020, including the minority shareholders' rights. The company generated revenues worth …

Financial Results