Top News & Analysis
MACRO NEWS
Egypt through GASC has purchased 465,000 tons of wheat for shipment in July and August in a fresh international tender at USD480/ton. (Enterprise)
The Customs Authority raised the USD exchange rate related to customs to EGP18.65 from EGP17.00 in May. (Enterprise)
CORPORATE NEWS
Edita Food Industries [EFID] announced its Q1 2022 consolidated results, reporting an increase in net profits, reaching EGP162mn (+57% y/y), despite having net finance costs of EGP4mn, as finance income increased to EGP24mn (+43% y/y).
Edita Food Industries [EFID] announced its Q1 2022 consolidated results, reporting an increase in net profits, reaching EGP162mn (+57% y/y), despite having net finance costs of EGP4mn, as finance income increased to EGP24mn (+43% y/y).
Sidi Kerir Petrochemicals’ [SKPC] Q1 2022 figures showed net earnings of EGP251mn compared to EGP152mn a year earlier (+65% y/y).
Al-Ezz for Ceramics & Porcelain [ECAP] announced its Q1 2022 results, where its bottom line increased this quarter to EGP46.6mn compared to EGP38.6mn in the same period last year (+21% y/y).
Egyptian Gulf Bank’s [EGBE] EGM approved increasing the bank’s authorized capital to USD800mn, up from USD500mn. (Company disclosure)
East Delta Flour Mills [EDFM] said that financing the installation operations for the machinery and equipment in El Senanya mill in Damietta Governorate at a total cost of EGP100mn and capacity of 300 tons/day will be through internal sources. (Al-Mal)
El Nasr Clothing & Textiles Co.'s [KABO] Q3 2021/22 results showed net profit of EGP4.1mn vs. net losses of EGP4.4mn a year ago.
AT Lease [ATLC] closed its third securitized bond issuance worth EGP1.6bn. (Enterprise)