AIH’s consolidated profits fall 27% YoY in 2022: Egypt

Arabia Investments Holding’s (AIH) consolidated net profits after tax and non-controlling interest dropped 27% year on year (YoY) in 2022 to EGP 68.82 million, compared to EGP 94.28 million, according to the company’s financial statement filed to the EGX on April 2nd.

Operating revenues saw a 25.1% annual decrease last year to EGP 1.26 billion from EGP 1.69 billion.

At the level of the standalone financials, the company turned to a profit after tax of EGP 54.81 million in 2022, versus a net loss of EGP17.067 million in 2021.

In related news, AIH’s board has approved increasing its issued and paid-up capital by EGP 20.235 million distributed over 67.451 million shares at a par value of EGP 0.30 per share, the firm announced.

The capital will be increased to EGP 424.94 million from EGP 404.71 million via the payment of 0.05- for-1 bonus shares.