Cairo – Mubasher: Egyptian companies’ aggregate earnings and revenues are forecast to annually increase by 20% to EGP 6.72 billion and 3% respectively, said Mubasher Trade Research based on the financial results of 34 firms.
All sectors, except Industrials, Energy and Utilities, as well as Real Estate, are likely to see a growth in earnings, led by the telecom services and financials whose contribution to the aggregate growth rate is to exceed 356% and 18%, correspondingly.
In the second quarter of 2016 (Q2-16), Telecom Egypt’s earnings are to rise 112% year-on-year (YOY) to EGP800mn.
In addition, the International Commercial Bank’s profits are seen annually jumping by 21% to EGP1,390 million.
Excluding CIB, aggregate earnings growth would only move up to 19% year-over-year.
Excluding companies with YOY earnings growth higher or lower than100%, “earnings growth would only be +5% YoY (-1% QoQ)”.
