Today’s Top News & Analysis
CBE issues new anti-money laundering regulations
SPMD Q3 2023: Higher net losses on lower revenues
CCAP Q3 2023: An improvement in net profits despite the lower margins
MACRO
CBE issues new anti-money laundering regulations
The Central Bank of Egypt (CBE) issued new anti-money laundering regulations that focus on putting taps to the client activities, especially the ones that are in FX alongside the credit card deposits. (Enterprise)
CORPORATE
SPMD Q3 2023: Higher net losses on lower revenues
Speed Medical [SPMD] posted its Q3 2023 results with consolidated net losses of EGP24mn vs. EGP9mn last year on revenues declining by 11% y/y to EGP15mn. SPMD recorded a lower gross loss of EGP3mn vs. EGP9mn last year. (Company disclosure)
CCAP Q3 2023: An improvement in net profits despite the lower margins
Qalaa Holdings [CCAP] announced its Q3 2023 financial results posting EGP2bn in net profits vs. only EGP17mn a year earlier on the better revenues of EGP26bn (+11% y/y), despite the gross profit margin dropping to 10% (-25pp y/y). The improved net profits is attributable to the profits from selling sister companies of EGP3bn and the other income of EGP51mn. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
26-Dec-23
ELEC: EGM / Discussing capital reduction & amending Articles No. 6 & 7 of the company's bylaws.
ACGC: OGM / Approving financial statements ending 30 June 2023 and the proposed dividends.
27-Dec-23
EHDR: EGM / Approving increasing the issued capital & amending ArticleS No. 6 & 7 of the company's bylaws.
28-Dec-23
ABUK: Cash dividend / Payment date for a dividend of EGP3.00/share (2nd installment).
EAST: Cash dividend / Payment date for a dividend of EGP1.75/share (2nd installment).
4-Jan-24
8-Jan-24
ARCC: Cash dividend / Deadline for eligibility for a dividend of EGP0.262/Share.
9-Jan-24
BINV: EGM / Approving increasing the issued capital & amending Articles No. 6 & 7 of the company's bylaws.
11-Jan-24
HELI: OGM / Approving amending the date for distributing the third installment of the coupon & discussing bonus for employees for 2023
ARCC: Cash dividend / Payment date for a dividend of EGP0.262/share.