Pre-Trading Thoughts

GAFI's CEO started a promotional mission to Qatar to discuss pumping new Qatari investments into the Egyptian market. ESRS released solid 1Q22 Net Income after Minority Interest stood at EGP759 million in 1Q22 (+3% YoY, -27% QoQ). The YoY increase in earnings came despite booking EGP1.1 billion of forex losses. ESRS is trading at FY22e P/E of 2.7x and EV/EBITDA of 3.3x. IRAX released solid 1Q22 consolidated net attributable profit recorded EGP1,184 million in 1Q22 (-14% YoY, -54% ...