EGX profits stand at EGP 103m in H1 2017

Elsayed Solyman
1 Min Read
Traders work near the exchange bell at Egypt's Stock Exchange (EGX) in Cairo July 3, 2013. Cairo's benchmark dipped 0.3 percent, slipping off a three-week high and extending 2013 losses to 9 percent. Bourse data showed that foreign investors were sellers but Egyptians remained net buyers on hopes a military intervention would put an end to the Islamist president's rule. REUTERS/Mohamed Abd El Ghany (EGYPT - Tags: BUSINESS)

Egypt’s stock market’s net profit came in at EGP 103m in the first half (H1) of 2017, the stock exchange’s (EGX) chairperson Mohamed Omran said on the sidelines of a press conference in Cairo on Sunday.

According to Omran, the exchange net profit in 2016 came in at EGP 101m.

Omran, who was speaking about the performance of the Egyptian exchange in four years, explained that the bourse was able to achieve a surplus in that period.

“The EGX achieved financial surpluses of EGP 616m in four years,” Omran added.

“The EGX recorded a financial deficit of EGP 47m with an annual average of EGP 15m between 2011 and 2013,” he continued.

According to Omran, foreign investors were net buyers by EGP 15bn over the past four years.

Foreign investors were net sellers by EGP 4bn between 2011 and 2013, he added.

Omran who first stepped into office four years ago served as he serves as vice chairperson of the Cairo and Alexandria Stock Exchange. He is an ex-economist at the International Monetary Fund’s (IMF) Middle East and Central Asia Department.

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