Today: Orascom Construction is set to play a key role in Jordan’s largest-ever desalination water project, while CIRA Education posted a 67% rise in H1 net profit driven by higher education-led revenue growth.

🔔 EGX30 ended -0.9% by market close at 52,230 points, the EGX70 rose 0.2% to 13,973 points, and the EGX100 rose 0.04% to reach 19,524 points.

💸 The number of transactions reached 201,688 spread across 2,641,509,676 stocks leading to a turnover of EGP 8.907 billion.

🏷️ Local investors were the only net buyers.

📈 Top gainers for the market as a whole included Subscription Rights Of South Valley Cement (+77.1%), Misr Oils & Soap (+20.0%), and Alexandria New Medical Center (+20.0%).

📉 Top losers for the market included General Silos & Storage (-4.4%), El Arabia Engineering Industries (-4.0%), and Gogreen for Agricultural Investment (-3.5%).

⬆️ Top gainers for EGX30 included Kima (+3.2%), Qalaa Holdings (+2.2%), and Heliopolis Housing (+1.4%).

⬇️ Top losers included Eastern Company (-3.4%), GB Corp (-2.3%), and Raya Holding (-2.2%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,918 per gram, down 0.6% day-on-day but up 3.7% month-on-month.

💲 The USD reached EGP 52.78 at the National Bank of Egypt.

Orascom Construction (ORAS) is playing a key role in Jordan’s flagship national water carrier project, where it will not only lead construction works alongside Arab Contractors, but also handle operations and maintenance after completion, project director Saddam Khalifat told Middle East News Agency.

Project scope:

The USD 5.8 billion project is being led by a French consortium, with construction expected to begin this summer following financial close in July. Once operational, it will be the second-largest reverse osmosis plant in the world, desalinating and transporting around 300 million cubic meters of water annually across a 450 km pipeline, covering roughly 40% of Jordan’s drinking water needs by 2030.

Earnings alignment:

The project underscores Orascom Construction’s growing exposure to large-scale infrastructure and water-related developments, a theme reflected in its FY 2025 results. Net profit attributable to shareholders rose 65.1% year-on-year to USD 194.8 million, supported by stronger execution across all operating segments and contributions from its 50% stake in Belgian company BESIX.

Revenues increased 55.1% year-on-year to USD 5 billion, with Middle East and Africa operations accounting for 56% of the total. This regional strength was also reflected in new MEA awards of USD 2.1 billion, spanning power, renewable energy, infrastructure, and commercial projects in Egypt and Saudi Arabia—segments closely aligned with large-scale water and utility developments such as the Jordan project.

Strong backlog visibility:

More broadly, consolidated new awards rose 86.6% year-on-year to USD 5.6 billion, lifting the backlog to a record USD 9 billion as of end-2025, reinforcing visibility across critical infrastructure sectors including water, power, transport, and energy transition-linked projects.

Recent stock performance:

The company has seen a great start to the year, with its share price rising 39.3% since the beginning of 2026. This makes its share value up 117.3% compared to levels recorded 12 months ago.

CIRA Education (CIRA) reported a 67% year-on-year surge in normalized net profit, reaching EGP 678.3 million in H1 FY 2025/26, according to its latest earnings release. The increase was bolstered by a 31% year-on-year rise in revenues to EGP 2.8 billion, with the higher education segment serving as the main growth engine. Profitability was further boosted by a 12.2% decline in net finance costs and improved operating leverage.

Higher education remains key growth driver:

Higher education revenues rose 35% year-on-year to EGP 1.95 billion, supported by a 39% increase in enrollment to 36,000 students

Growth was driven by strong intake across Badr University campuses and the ramp-up of Saxony Egypt University (SEU). Utilization in the higher education segment improved to 88%, compared with 67% in the same period last year.

K-12 network continues gradual expansion:

The K-12 segment – which saw its revenues rise 23% YoY to about EGP EGP 883 million during H1— expanded to 30 schools across nine governorates, with enrollment increasing 4% year-on-year to 37,183 students.

International expansion and pipeline development:

Company CEO Mohamed El Kalla said CIRA is transitioning into a regional education platform, highlighting its recent entry into North America through the acquisition of a stake in US-based Falcon Academy.

Looking ahead, the company is preparing to launch a Housing Tourism faculty at SEU for the September 2026 intake, pending regulatory approvals. It is also advancing strategic partnerships, including a collaboration with Ontario Tech University to launch accredited engineering master’s programs, alongside plans to open the world’s first telc-SIS Academy.

Recent stock performance:

The company has seen a good start to the year, with its share price rising 9.4% since the beginning of 2026. This makes its share value up 33.4% compared to levels recorded a year ago.

Today:

Cairo Poultry - distribution date for EGP 0.33 per share. The record date was April 26.

Ibnsina Pharma - distribution date for EGP 0.13 per share. The record date was April 26.

GB Corp - distribution date for EGP 0.20 per share. The record date was April 26.

Tomorrow:

Samad Misr - distribution date for EGP 3.83 per share. The record date was April 27.

Telecom Egypt - distribution date for EGP 1.5 per share. The record date was April 27.

Egyptian International Pharmaceuticals - distribution date for EGP 1.5 per share. The record date was April 27.

Egyptian Financial and Industrial - distribution date for EGP 1 per share. The record date was April 27.

Zahraa Maadi Investment and Development - distribution date for EGP 0.10 per share. The record date was April 27.

🛢️ Egypt’s natural gas import costs are set to rise sharply next fiscal year, increasing by around 26% year-on-year to reach USD 10.7 billion, amid higher global energy prices driven by ongoing regional conflict, a government official told Asharq on condition of anonymity The government plans to allocate the budget to secure around 18.7 million tons of imported gas to meet domestic demand of roughly 7 billion cubic feet per day. The expected rise adds about USD 2.2 billion compared to the current fiscal year’s projected import bill of USD 8.5 billion, with supplies expected to come from a mix of LNG shipments and pipeline imports from Israel.

💵 Chinese and Turkish manufacturers are expanding investments in Egypt despite regional instability, focusing on export-driven industrial projects in textiles, logistics, and trade infrastructure. A number of Turkish firms are planning up to USD 800 million in new investments in the Suez Canal Economic Zone, including a USD 400 million cardboard plant and a garment factory targeting mainly European exports. Meanwhile, Chinese investors are advancing multi-billion-dollar proposals ranging from a smart port terminal to a large-scale integrated trade city, reinforcing Egypt’s role as a regional export hub.