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OIH cuts consolidated losses in H1

OIH cuts consolidated losses in H1

ArabFinance: Orascom Investment Holding (OIH) incurred a consolidated net loss attributable to the parent company of EGP56.56 million in the first half (H1) of 2021, cutting its losses from EGP 284.23 million in H1 2020, according to the company’s financial statements filed to the Egyptian Exchange (EGX).

Meanwhile, the company suffered a standalone net loss of EGP 59.58 million in H1 2021, compared to a net profit of EGP 49.78 million in the year-ago period.

OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector. The company’s activities are mainly divided into its global system for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.

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