By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Kuwait extends maturity of $2bn deposit at CBE to September 2023
    Kuwait extends maturity of $2bn deposit at CBE to September 2023
    March 26, 2023
    Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
    Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
    March 25, 2023
    Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
    TikTok updates its community guidelines
    March 23, 2023
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
    March 23, 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
    March 23, 2023
  • Politics
    PoliticsShow More
    Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
    Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
    March 26, 2023
    Al-Sisi follows up on Justice Ministry's efforts to accelerate trial procedures at courts
    Al-Sisi follows up on Justice Ministry’s efforts to accelerate trial procedures at courts
    March 26, 2023
    Egypt participates in Earth Hour initiative 
    Egypt participates in Earth Hour initiative 
    March 26, 2023
    Egypt's Health Minister discuss bilateral cooperation with an Italian delegation 
    Egypt’s Health Minister discuss bilateral cooperation with an Italian delegation 
    March 23, 2023
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Factors to watch in Egypt’s stock market in the week ahead
Share
Notification
Latest News
Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
Politics Egypt
Kuwait extends maturity of $2bn deposit at CBE to September 2023
Kuwait extends maturity of $2bn deposit at CBE to September 2023
Business
Al-Sisi follows up on Justice Ministry's efforts to accelerate trial procedures at courts
Al-Sisi follows up on Justice Ministry’s efforts to accelerate trial procedures at courts
Politics Egypt
Egypt participates in Earth Hour initiative 
Egypt participates in Earth Hour initiative 
Environment Politics
Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
Connect with family and friends this Ramadan: How to manage the festivities with WhatsApp
Business Technology
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Stock Market > Factors to watch in Egypt’s stock market in the week ahead
Stock Market

Factors to watch in Egypt’s stock market in the week ahead

Daily News Egypt
Last updated: 2017/11/18 at 8:30 PM
By Daily News Egypt 4 Min Read
Share
SHARE

When Egypt’s stock market starts trading on Sunday 19 November, most investors should be watching the following factors in the week ahead, with some companies holding their ordinary general meetings to discuss different matters.

This week will see also dividend distribution due dates for some of the listed companies.

Starting with Alexandria Mineral Oils Co. (AMOC), its date for dividend eligibility of the EGP 0.55 coupon will be on 20 November.

The company’s general meeting has approved the distribution of EGP 731.8m for the profit of fiscal year (FY) 2016/2017.

The distribution has been divided into two coupons, with the second one due next January.

The financial indicators of the company have shown a surge in profits by 152.8% in FY 2016/2017, according to a bourse filing.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that net profits totaled EGP 1.1bn in FY 2016/2017, compared to EGP 435.4m the year before.

Sales jumped 119% to EGP 9.58bn, up from EGP 4.37 billion in FY 2015/2016.

During the year, AMOC booked EGP 275.2m of foreign exchange gains, versus EGP 36.8 million a year earlier, it added.

Excluding the impact of such gains, normalised net income would have recorded EGP 825.4m, increasing by 107% year-on-year.

Revenues jumped 119% year-on-year to EGP 9.59 billion, beating expectations by 8%.

The growth in top line could be attributed to the fact that AMOC’s products are benchmarked to global prices in USD terms. Hence, EGP devaluation triggered higher selling prices for the company’s products, the research firm explained.

Meanwhile, Saudi Egyptian Investment and Finance is scheduled to announce its financials for the third quarter of the year on 21 November.

The company posted a 68.4% year-on-year hike in profits, according to a statement.

The firm achieved profits of EGP 7.11m in the three months ending June 2017, up from EGP 4.22m in the corresponding period of 2016.

In the first half (H1) of 2017, the profits of the company soared 26% to reach EGP 11.63m from EGP 9.25m in H1 2016.

The company’s profits amounted to EGP 4.25m in the three months ending June, versus EGP 5.03m in the same period the year before.

Eastern Company’s due date for its cash dividend of the EGP 8 coupon will be on 22 November.

The company’s adjusted financial statements showed a 20% year-on-year rise in profits in fiscal year 2016/2017.

Profits amounted to EGP 1.77bn during the fiscal year ending June 2017, compared to EGP 1.47bn in the same period last year, according to a company statement to the Egyptian Exchange (EGX) on Wednesday.

The company’s sales rose by 38% to EGP 10.5bn during FY 2016/2017, versus EGP 7.6bn in the previous fiscal year.

Meanwhile, NBK Egypt’s bonus share distribution will due on 24 November.

The bank posted an 80% year-on-year hike in profits for the second quarter of 2017 on the back of a growth in returns from loans.

The bank’s profits amounted to EGP 397.13m in the three months ending June 2017, up from EGP 220.8m in the corresponding period of 2016, according to a bourse filing.

Return from loans reached EGP 1.39bn in Q2 2017, rising from EGP 874.1m in Q2 2016.

In the first half of 2017, NBK Egypt’s profits surged 78% to EGP 726.6m from EGP 407.4m in H1 2016.

The bank previously achieved profits of EGP 329.5m in Q1 2017, versus EGP 186.6m in Q1 2016.

You Might Also Like

Palm Hills Developments to establish “GEMS British International School of Badya” in partnership with EEP

How did EGX respond to Egyptian pound flotation?

EGX rally following CBE’s governor resignation

Financial, commodity markets under pressure due to Russia-Ukraine war

BariQ to be listed on EGX before end of 2023

TAGGED: factors, stock market
Share this Article
Facebook Twitter Email Print
Previous Article ASEA Annual and Flagship Conference  Egypt to host the 21st ASEA Annual and Flagship Conference 
Next Article Top 10 real estate projects in New Cairo
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
Health Minister opens 1st production line of ‘Hepatitis B and Pentavalent’ vaccines in Egypt
Politics Egypt
Kuwait extends maturity of $2bn deposit at CBE to September 2023
Kuwait extends maturity of $2bn deposit at CBE to September 2023
Business
Al-Sisi follows up on Justice Ministry's efforts to accelerate trial procedures at courts
Al-Sisi follows up on Justice Ministry’s efforts to accelerate trial procedures at courts
Politics Egypt
Egypt participates in Earth Hour initiative 
Egypt participates in Earth Hour initiative 
Environment Politics
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?