Financial Results
Total revenues went up to LE 1.17 billion in H1 of 2017 from LE 624 million in H1 of 2016 and hit LE 469 million in Q2 of 2017, increasing from LE 436.7 million in the year-ago period.
Elsewedy Electric’s net profit increased 84.6 percent to LE 3 billion from LE 1.6 billion in the same period last year.
Orascom Development Egypt’s sales surged 96 percent year-on-year and 187.9 percent quarter-on-quarter to LE 533.4 million in the second quarter.
The hotels segment’s revenues hiked 145.2 percent to LE 448.8 million, rising from LE 183 million in H1 of 2016.
Telecom Egypt’s net Profit after tax grew 22 percent to LE 1.3 billion in the second quarter of 2017, representing a net profit margin of 27 percent.
Dubai's DAMAC Properties (DAMAC.DU), the owner and operator of the only Trump-branded golf club in the Middle East.
Naeem Holding decided to transfer the 49 percent of shares owned in Naeem Shares and Bonds Company to Ittihad Capital Company.
Total revenues leveled up to LE 3.22 billion ($181 million) in the first six months of 2017 from LE 2.16 billion in the same period of the previous year.
Gross profit fell 16.6 percent year-on-year to LE 473.3 million in Q2 of 2017, yielding a gross profit margin of 11.3 percent.
Sales grew five-fold to reach LE 2.4 billion in the first six months of 2017 and advanced to LE 576.8 million in the second quarter of the year.
Net sales increased 17 percent to LE 577 million by June 2017, up from LE 500 million in the same year-ago period.
Misr Kuwait Investment and Trading’s sales increased to LE 14.2 million in H1 of 2017, up from LE 9.13 million in H1 of 2016.
Daily round up of major business and economy news .
A wrap-up for the most prominent news circulated during the day.
Edita Food Industries’ profits dropped 85.3 percent to LE 1.7 million in the second quarter of 2017, down from LE 41.6 million in Q2 of 2016.
Pharos Holding maintained the fair value (FV) for Juhayna Food Industries at LE 8.88, with an Overweight recommendation.
Juhayna Food Industries' revenues leveled up 17 percent to LE 2.86 billion in the first six months of 2017.
Oriental Weavers' sales hiked 63 percent to LE 4.9 billion in the first half of 2017 from LE 3 billion in the year-ago period.
Vodafone Egypt achieved LE 4.5 billion ($0.25 billion) revenues in the first quarter of 2017, with a 25 percent increase year-on-year.
Orange Telecommunication Egypt incurred LE 1.104 billion losses in the first six months of 2017, with a surge of 3245 percent from LE 33 million.
