AIH’s consolidated profits down 18.5% YoY in Q1 2024
Updated 5/29/2024 10:32:00 AMArab Finance: Arabia Investments Holding (AIH) reported an 18.5% year-on-year (YoY) decrease in consolidated net profits attributable to the holding company in the first quarter (Q1), reaching of 2024 to EGP 7.504 million, versus EGP 9.202 million, the firm stated.
On the other hand, operating revenues rose to EGP 308.253 million during the January-March period this year from EGP 277.929 million in the same period last year.
As for standalone financials, the company’s net profits after tax went down to EGP 105,983 in Q1 2024 from EGP 116,962 in Q1 2023.
Meanwhile, standalone operating revenues dropped to EGP 3.043 million from EGP 4.957 million.
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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