Today’s Top News & Analysis
The government to announce emergency measures for food inflation
Madinat Masr records highest contracted sales
ALCN 2022/23: Simple is key
MOPCO's BoD approves merging with its subsidiary ENPC
MACRO
The government to announce emergency measures for food inflation
The Egyptian government is planning to announce emergency measures next week to curb food inflation. The measures will be coordinated by key ministers, the Central Bank of Egypt, manufacturers and traders. (Enterprise)
CORPORATE
Madinat Masr records highest contracted sales
Madinat Masr [MASR] has reported the highest contracted sales in its history in Q3 2023. MASR also expects to pass the EGP20bn mark of contracted sales during this year. (Company disclosure)
ALCN 2022/23: Simple is key
Alexandria Container Handling Co. [ALCN] 2022/23 net profits came in at a strong EGP4.4bn (+116% y/y, +9% vs. Prime Research expectations). Revenues came at EGP4.96bn (+75% y/y, +5% vs. Prime Research expectations). GPM recorded 78.2% (+9pp y/y, inline with Prime Research expectations). This was through handling 827,176 trade containers and 4,107 transit containers. (Company disclosure)
MOPCO's BoD approves merging with its subsidiary ENPC
Misr Fertilizers Production's (MOPCO) [MFPC] BoD meeting held on 3 October approved the merge of its subsidiary Egyptian Nitrogen Products Company (ENPC) into the parent company based on book value of the two companies according to the financial statements of 31 December 2022. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
4-Oct-23
SKPC: Cash dividend / Payment date for a dividend of EGP0.40/share (2nd installment).
DAPH: Stock dividend / Last date for eligibility for a 0.1-for-1 stock dividend.
5-Oct-23
DAPH: Stock dividend / Date for distributing a 0.1 for-1 stock dividend.
11-Oct-23
ORAS: EGM / Discussing the dividend distribution of USD0.2750/share.
EFIH: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
12-Oct-23
EGTS: OGM / Approving financial statements ending 31 Dec. 2022.
EGCH: OGM / Approving financial statements ending 30 June 2023.
EGCH: EGM / Amending Article No. 3 & 21 of the company's bylaws.
17-Oct-23
POUL: OGM / Discussing dividends distribution.