Egypt: Orascom Investment Holding records higher consolidated net profits in Q1-23

Orascom Investment Holding (OIH) achieved consolidated net profits worth EGP 108.94 million during the first quarter (Q1) of 2023, a surge from EGP 86.54 million in Q1-22.

The company’s operating revenue jumped to EGP 37.71 million in Q1-23 from EGP 8.06 million in Q1-22, according to the income statements.

The basic and diluted earnings per share (EPS) from continuing operations went up to EGP 0.020 in January-March 2023 from EGP 0.006 in the same three months (3M) in the previous year.

Orascom Investment Holding’s total assets amounted to EGP 4.76 billion as of 31 March 2023, compared with EGP 4.02 billion as of 31 December 2022.

In 2022, the listed firm posted consolidated net profits after tax of EGP 428.04 million, while the standalone profits reached EGP 754.55 million.