Top Middle East corporates that announced Q2, H1 results today

Here's a glimpse of the top results announced today at the various stock exchanges

  
Investors are seen at the Dubai International Financial Market in Dubai, UAE February 7, 2018. Image used for illustrative purpose.

Investors are seen at the Dubai International Financial Market in Dubai, UAE February 7, 2018. Image used for illustrative purpose.

REUTERS/Satish Kumar

While corporates in the Middle East are busy announcing their Q2 or H1 results, here's a glimpse of the top results announced today at the various stock exchanges.

Etisalat Group

UAE-based Etisalat Group's consolidated revenues amounted to AED26.4 billion representing year-over-year (YoY) increase of 3.2 percent.

Its consolidated net profit after Federal Royalty amounted to AED 4.7 billion representing a YoY increase of 3.9 percent and resulting in a net profit margin of 18 percent.

Etisalat Group's subscriber base is now at 156 million. Its UAE subscriber numbers are at 12.1 million.

The telecom giant will pay interim dividends of 40 fils per share for the first half of this year.

Egyptian Financial & Industrial

Egyptian Financial and Industrial SAE (EFIC) is an Egypt-based company involved in the production and marketing of agricultural chemicals.

The company focuses on the production and distribution of chemical resources and agricultural fertilizers, as well as the production of plastic and general bags to fill up its products.

Egyptian Financial & Industrial's first half (H1) standalone net profit after tax stood at EGP 37.4 million versus EGP 10.7 million last year.

Its H1 standalone revenue stood at EGP 396.1 million compared to EGP 216.4 million last year.

Bahrain Telecommunications company (Batelco)

Batelco's H1 attributable profit rose to 37.5 million dinars compared to 35.9 million dinars same time last year.

It's revenue for the first half of the year rose to 198.2 million dinars compared to 189.8 million dinars last year.

The telecom company posted its Q2 attributable profit at 17.8 million dinars and Q2 revenue at 98.4 million dinars versus 92.2 million dinars same time last year.

The board has approved an interim cash dividend of 13.5 fils per share for the six-month period of 2021.

Saudia Dairy and Foodstuff Co (SADAFCO)

Saudia Dairy and Foodstuff Company (SADAFCO) recorded its Q2 net profits after Zakat and tax at SAR 37.99 million.

Its net profit was down by more than 40 percent compared to SAR 70.53 million posted in the same period last year.

The company cited factors such as declining consumer spending power, prolonged school closure and higher raw material prices as reasons for the decrease in net profit during Q2.

Commercial Bank International

Commercial Bank International posted a net profit of AED 27 million in Q2 2021, compared to a net loss of AED 97 million in Q1 2021.

Its Q2 net operating income increased by 3 percent from AED 129 million to AED 133 million.

(Writing by Seban Scaria seban.scaria@refinitiv.com ; editing by Anoop Menon)

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© ZAWYA 2021

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