Today: We have the latest financial results from Heliopolis Housing, Pioneers Properties, Gadwa for Industrial Development + news that Egypt's non-oil private sector saw its fastest deterioration in operating conditions in two years

🔔 EGX30 ended +1.9% by market close at 47,276 points, the EGX70 rose 0.7% to 12,846 points, and the EGX100 increased 1.0% to reach 17,898 points.

💸 The number of transactions reached 161,684 spread across 2,576,541,443 stocks leading to a turnover of EGP 6.059 billion.

🏷️ Local investors were the only net sellers.

📈 Top gainers for the market as a whole included October Pharma (+20.0%),Misr Oils & Soap (+20.0%), and Egyptian Gulf Marseilia For Real Estate Investment (+14.5%).

📉 Top losers for the market included Subscription Rights Of Arab Developers Holding -2 (-15.7%), Arab Developers Holding (-4.1%), and Maridive & oil services (-3.9%).

⬆️ Top gainers for EGX30 included Egypt Aluminum (+7.4%), Orascom Construction (+6.0%), and Telecom Egypt (+5.3%).

⬇️ Top losers included Heliopolis Housing (-1.2%), Abu Qir Fertilizers (-0.9%), and Valmore Holding -EGP (-0.8%).

Other Important Stats: 

🧈 24K Gold reached EGP 8,135 per gram, down 1.5% day-on-day and down 0.1% month-on-month.

💲 The USD reached EGP 54.42 at the National Bank of Egypt.

⬆️ Heliopolis Housing (HELI) saw its net profit rise by 6% in 2025, recording EGP 2.71 billion, according to its latest financial results This growth was heavily supported by a massive jump in operating revenues, which nearly tripled to hit EGP 3.13 billion for the year. On shareholder returns, the company is proposing a cash dividend of EGP 0.435 per share, pending approval at the general assembly. It’s worth noting that the company’s share value is up 50% compared to levels recorded 12 months ago.

⬇️ Pioneers Properties For Urban Development (PRDC) saw net profit tumble 46.5% to EGP 674.3 million in 2025, while revenues jumped to EGP 6.41 billion, up from EGP 4.99 billion last year, according to its latest financial results. In other news, management yesterday said it is preparing to sign agreements with eight global hotel brands to develop nearly 10,000 rooms and serviced apartments across Cairo, North Coast, Ain Sokhna, and Marsa Alam. The company’s share price is up 29% over the past 12 months.

⬇️ Gadwa for Industrial Development (GDWA) reported a 69% drop in 2025 net profit to EGP 503 million, with revenues sliding to EGP 15.77 billion from EGP 19.05 billion last year, according to its latest financial results. On shareholder returns, the board proposed a cash dividend of 2 piasters per share and approved cancelling 38.435 million treasury shares in an effort to increase share value, cutting paid-up capital by EGP 14.605 million. It’s worth noting that the company’s share value is down 36% over the past 12 months.

In non-earnings news: 

👀 The Financial Regulatory Authority yesterday announced that it received an optional tender offer for Alexandria Spinning & Weaving (SPIN), targeting roughly 20% of shares (72.072 million). The consortium behind the bid includes New Construction Chemical and ASCOM Real Estate Investment, offering EGP 15 per share. The offer was filed on April 2, 2026, and is now under review by the authority. The company’s share price stood at EGP 14.59 by yesterday’s market close, up 81% over the past 12 months.

Today:

Commercial International Bank - record date for EGP 6 per share. The distribution date is April 9.

Housing and Development Bank - record date for EGP 8 per share. The distribution date is April 9.

April 7th:

Arab Moltaqa Investments - record date for EGP 0.10 per share. The distribution date is April 14.

April 9th:

Arabian Cement - record date for EGP 5.34 per share. The distribution date is April 16.

Al Baraka Bank - record date for EGP 1.1 per share. The distribution date is April 16.

Egyptians for Housing and Development - record date for EGP 0.10 per share. The distribution date is April 16.

Egyptian companies reported a steeper decline in business activity in March, as the headline seasonally adjusted S&P Global Egypt Purchasing Managers' Index (PMI) fell from 48.9 in February to 48.0. The latest reading marked the fourth successive monthly decline and the strongest downturn recorded since April 2024. Operating conditions weakened as the war in the Middle East dampened client demand and fueled price pressures.

What this means

 The PMI is a key gauge of economic momentum in the non-oil private sector. Readings above 50 indicate month-on-month expansion, while levels below that threshold signal contraction. While the March reading of 48.0 was the lowest in almost two years, S&P Global Senior Economist David Owen noted it still relates to an annual GDP growth of around 4.3%. Combined with stronger readings earlier in the first quarter, the data suggests the domestic non-oil sector remains on a solid underlying growth path despite current headwinds.

Output declines as new orders fall

Driving the headline index lower were sharper contractions in both output and new orders, with both measures hitting their lowest levels in nearly two years. Manufacturers were the worst affected by these declining conditions. While purchasing activity saw a slight uptick after two months of cuts, employment levels remained broadly stable following a period of job shedding that had persisted since the end of last year.

Cost pressures accelerate, hitting business margins

 Input prices increased sharply in March, with firms reporting the quickest uptick in costs since the end of 2024. Businesses cited surging commodity prices linked to the war, higher fuel costs, and a weaker Egyptian pound against a strengthening US dollar. In response to these significant balance-sheet impacts, firms raised their output prices at the strongest pace in ten months to try and protect margins.

Outlook

Expectations toward future activity slipped into negative territory for the first time in the survey's history. For the first time on record, Egyptian non-oil firms predicted a fall in output over the next 12 months. While the degree of pessimism was described as mild, it reflects growing concerns over the heightened uncertainty surrounding the Middle East war and its continued impact on demand and inflation