Earnings Report /Egypt
Orascom Development Egypt: A great start to the year
Sales reached EGP2.1 billion, up 37.1% y/y and 13.8% q/q and higher than our expectation of EGP1.7 billion.
Total revenue reached EGP1.5 billion, up 61.5% y/y, down 15.2% q/q, and higher than our expectation of EGP1.1 billion.
Net profit jumped 321.1% y/y and 117.0% q/q to EGP408.9 million.