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Favourable base effect gives way to a better Q2 of 2020
Since start of pandemic, Suez Canal’s revenues have reached $3.3bn
Juhayna’s net profit in Q2 of 2020 grew 9.4% to EGP 118mn, despite capital losses of EGP 20m due to the sale of unutilised agricultural assets and reduction of agricultural land. The net profit margin increased by 0.9pps to reach 6.2%.
Company reports EGP 10.4bn in revenues for the first quarter of the current year
Developing power stations in partnership with industrial developers costs EGP 4.4bn, says SCZone
Company sees decline in financial, operational performance due to appreciation of EGP against US dollar
The figures for FY 2019/2020 compared to the €1.1bn reported in the FY 2018/2019, with Vodafone International’s fiscal year starting on 1 April and ending on 31 March of each year.
Company faced challenges that negatively affected performance due to coronavirus, says El Sewedy
Company’s factory in Morocco will be inaugurated by year end, says Shams El Din
Maritime traffic in Suez Canal rose 8.7% in first four months of 2020, says Canal’s Chairman
The highest contributors to the top line were the dairy and yoghurt segments, representing 55% and 20% of revenues in Q1 2020, respectively. Sales of dairy products reached EGP 980m, yoghurt sales accounted for EGP 361m, and juice sales accounted for EGP 316m.
Hermes downgrades revenue estimation to $10.5-11bn, economist expects 20-30% drop
As a result, net income after tax for the year declined by 23.8% to EGP 31.9m down from EGP 41.8m in 2018. The latest figures register a net profit margin of 12.9%, compared to 15.0% in 2018.
Tourism revenues recorded $7.8bn, $2.5bn, $6.1bn in 2017, 2016, and 2015 respectively.
It came on the sidelines of a conference between the government and the private sector organised by the Egyptian Junior Business Association.
GCC tourists average spending in 2020 to witness hike of 11%, reaching $2.36bn, Saudi Arabia will drive this growth
SCA decided to raise crossing-fees by 5% on bulk barriers and LPG tankers, starting April
To return to 2010 Egypt’s tourism revenue rates, country must diversify tourism markets, with more cooperation between Tourism and Civil Aviation Ministries
Next Article IV consultation likely to be held early 2020, says staff report
Experts argue security stability is key behind hike in tourism, Sultan forecast sector to achieve $15bn by FY-end
Qalaa Holdings is a company that works in energy, cement, agrifoods, transportation and logistics, mining, and printing and packaging.
Large private company to be offered on EGX by November
Mamish revealed in a press conference on Tuesday evening that $25bn was invested in the Suez Canal Economic Zone (SCZone), across 192 projects that have been carried out.
Upon approval of shareholders, paid-up capital will be increased from EGP 119.697m to EGP 191.515m
Company achieves net profit of EGP 207.7m in this period, up 39% y-o-y
The top-line expansion came on the back of robust results posted across its subsidiaries, especially at the Group’s energy platform with TAQA Arabia’s revenues up 41% y-o-y and Tawazon’s up by 59% y-o-y, according to Qalaa’s Tuesday press statement.
Net profit boosted by 27% y-o-y reaching 18m
According to the press statement, the strong growth in revenues was driven mainly by Villette which contributed to circa 50% of the delivered value.
On the occasion of International Museums Day, CAPMAS said on Saturday that the number of Egyptian museums declined to 34 museums in 2018, down from 35 in 2017.
The company posted gross profit of EGP 292.7m and gross profit margin of 7.85% in 1Q19, up approximately 0.4 percentage points from 7.49% in 1Q18.