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AIH reports lower profit in 2020

AIH reports lower profit in 2020

ArabFinance: Arabia Investments Holding (AIH) reported a 5.6% Year on Year increase in its consolidated net profit in 2020, according to the company’s April 1st financial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 85,478,233 in 2020, compared to EGP 80,933,130 achieved a year earlier.

Standalone net loss reached EGP 10,978,655 in 2020, a 166% leap from EGP 4,134,386 incurred in 2019.

Earlier, AIH said it will use the EGP 45.5 million proceeds from treasury sales to finance part of its expansion plan, mainly in the non-banking financial services (NBFS).

AIH, formerly Arabia Investments Development Financial Investments Holding Company, is an Egypt-based company that invests in fields such as power, building materials, automotive, and oil and gas.

The company focuses on diversified development, offering infrastructure, construction, and industrial solutions.

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