17.6 billion pounds profit of 116 companies listed on the Egyptian Stock Exchange in the first quarter

Economy and stock exchange

Shuaa Investment Bank said that the consolidated profits of listed companies on the Egyptian Stock Exchange rose 10% year-on-year and 12% year-on-year to EGP 17.62 billion, according to companies reporting Q1 / To 116 companies so far, while consolidated revenues grew by 10% year-on-year, down 9% year-on-year to LE 100.10 billion.

In a press release on Tuesday, Shuaa attributed the growth in the profits of the stock exchange companies, driven by the significant rise in the profits of Telecom Egypt, after realizing a double-digit profit in the first quarter of 2019 on a year-on-year basis, shifting from losses to profit on a quarterly basis, Of its investments in Vodafone Egypt, in addition to the strong growth in revenue achieved in most of its business sectors. On the other hand, excluding the results of Telecom Egypt, the consolidated profit growth rate is 5% year on year and growth of 2% Quarter to reach LE 16.01 billion.

If all companies that grew or decreased by more than 100 percent in annual profits are excluded, the growth in consolidated profits is only 6 percent year-on-year and 2 percent growth on a quarterly basis.

As for the leading sectors in the growth of revenues and profits, revenues showed absolute growth during the first quarter of 2019 on a year-on-year basis, supported by financial services companies with growth of 17% year-on-year and 2% quarter-on-quarter growth thanks to Commercial International Bank – Egypt and Qatar National National Bank, which achieved revenues of LE 5.77 billion, a growth of 25% on a year-on-year basis, and a decrease of 1% year-on-year, EGP 3.74 billion, a growth of 26% year-on-year, Annually.

The second largest sector that contributed to the absolute growth in revenue was the recreational consumer goods sector, which grew by 27% year-on-year and a 5% decline on a quarter-on-quarter basis. , The growth rate of 36% quarter-on-quarter, Ghabbour Auto grew by 23% year on year, the proportion decreased 17% quarter-on-quarter.

In the first quarter of 2019, the financial services sector led a growth of 24% year-on-year and 19% growth on a quarterly basis, thanks to Commercial International Bank of Egypt, which posted a net profit of EGP2.64 billion, a growth of 31% Annual growth rate and 3% growth on a quarterly basis.

The second largest sector that contributed to the absolute growth in profits was the telecom sector, which grew by 104% year-on-year and growth of 63% quarter-on-quarter, boosted by the gains of Egypt Telecom and Global Telecom Holding, which rose to 1.62 billion pounds With a growth rate of 109% year-on-year], and 598 million pounds [261% year-on-year] and a decrease of 52% year-on-year respectively.

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