Arab Finance: Orascom Investment Holding (OIH) reported a 70.44% year-on-year (YoY) drop in consolidated net profits attributable to the parent company for 2023, recording EGP 339.406 million in 2023 from EGP 1.148 billion in 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on April 28^th.

Standalone profits fell to EGP 215.151 million last year, compared to EGP 754.553 million in 2022.

OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector.

It is mainly engaged in global systems for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.

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