Gold prices edge higher on Aug. 20th    Egyptian pound opens flat on Wednesday    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt expresses 'deep dissatisfaction' to Netherlands over embassy attack    Global pressure mounts as Gaza fighting intensifies and death toll surges    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    At TICAD, Egypt's education minister signs pacts with Casio, SAPIX    Madbouly invites Japanese firms to establish industrial zone in SCZONE    Cairo, Tokyo sign LOI to expand educational cooperation, support for persons with disabilities    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Al-Sisi meets Qatar PM, Bahrain security adviser to discuss Gaza crisis, regional stability    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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Company news investors should track for the past week
Marsa Alam trims losses in H1 2017
Daily News Egypt Published in Daily News Egypt on 20 - 08 - 2017

Marsa Alam for Tourism Development trimmed losses by 84% year-on-year during the first half (H1) of 2017, according to a bourse filing.
The company said in a statement to the Egptian Exchange (EGX) that losses amounted to EGP 1.07 million in H1 2017, compared to EGP 6.59 million for the same period last year.
Revenues totaled around EGP 336,900 in the six-month period that ended on 30 June 2016, the statement noted.
Ajwa Group posts a 90% fall in profits
Ajwa Group for Food Industries – Egypt posted a decline in profits by 89.9% year-on-year in the first half of the year, according to a bourse filing.
The company said in a statement to the Egyptian Exchange (EGX) that profits hit EGP 1.87 million, compared to EGP 18.58 million for the same period last year.
Sales grew to EGP 250.01 million in H1 2017, up from EGP 138.36 million in H1 2016, while at the same time sales costs went up to EGP 222.6 million from EGP 118.2 million.
Suez Bags profits skyrocket 222% in H1
Suez Bags reported a surge in profits by 222.2% year-on-year in the first half of the year, according to a bourse filing.
The company said in a statement to the Egyptian Exchange (EGX) that profits came in at EGP 26.23 million in H1 2017, compared to EGP 8.14 million for the six-month period that ended on 30 June 2016.
During that period, sales volumes increased to EGP 207.2 million, up from EGP 123.96 million in the corresponding period of the year before.
NileSat profits fall 31% in Q2
Egyptian Satellites Company (NileSat) reported a decline in its net profits by 30.7% for the second quarter of the year, as shown by the company's financial statements.
The company said in a statement to the Egyptian Exchange (EGX) that profits reached $16.34 million in the three-month period that ended on 30 June 2017, compared to $23.59 million in Q2 2016.
Revenues also dropped to $38 million from $43 million, the statement noted.
Egypt for Poultry BOD approves capital cut
Egypt for Poultry said that its board of directors (BOD) has approved cutting the company's paid and authorized capital to EGP 85.14 million from EGP 94.6 million, according to a bourse filing.
The company said in a statement to the Egyptian Exchange (EGX) that the capital cut will be through the termination of 10% of treasury stocks, equivalent to 4.73 million shares, with a nominal value of EGP 2 per share.
EK Holding profits accelerate in Q2
Egypt Kuwait Holding (EK Holding), listed on Kuwait's and Egypt's bourses, posted a 24.8% year-on-year rise in its profits during the second quarter (Q2) of 2017.
Profits reached KWD 4.13 million ($13.71 million) in Q2 2017, compared to KWD 3.31 million ($10.98 million) in Q2 2016.
In the first half of 2017, profits grew 10.8% to KWD 10.78 million from KWD 9.73 million in the prior year.
Suez Cement turns to losses in Q2 2017
Suez Cement announced turning to losses during the second quarter of 2017 year-on-year, according to a bourse filing.
Losses amounted to EGP 82.15 million in Q2 2017, versus profits of EGP 49.43 million in Q2 2016.
The cost of sales rose to EGP 1.48 billion in Q2 2017, compared to EGP 1.19 billion year-on-year.
Mopco Q2 profits jump 171%
Misr Fertilizers Production Co (Mopco) posted a 171.4% year-on-year rise in profits for the second quarter of 2017, according to a bourse filing.
The firm profits stood at EGP 335.25 million in Q2 2017 from EGP 123.54 million in Q2 2016.
Net sales rose 59.43% year-on-year to EGP 468.58 million in Q2 2017 from EGP 293.91 million in Q2 2016.
In the first half of 2017, standalone profits grew to EGP 753.5 million from EGP 377.67 million in H1 2016.
SODIC Q2 profits leap 26% as revenues grow
Sixth of October for Development and Investment (SODIC) showed a 25.6% year-on-year profit increase in the second quarter of 2017 due to a boost in revenues.
Profits reached EGP 129.5 million in Q2 2017 as compared to EGP 103.12 million in the year-ago period, the company announced in a bourse filing.
Revenues increased to EGP 468.9 million in Q2 2017 as compared to EGP 463.7 million in the year-ago period, while profits increased to EGP 341.5 million in H1 2017 as compared to EGP 157.7 million in the year-ago period.

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