AIH’s consolidated profit drops 74.53% YoY in Q1
Updated 5/30/2023 11:06:00 AM
Arab Finance: Arabia Investments Holding (AIH) reported a 74.53% year-on-year (YoY) decrease in consolidated net profit attributable to the holding company for the first quarter (Q1) of 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 30th.
Consolidated net profit excluding minority interest stood at EGP 9.201 million in Q1 2023, compared to EGP 36.122 million in Q1 2022.
Operating revenues declined to EGP 277.929 million during the first three months of 2023, compared to EGP 320.917 million during the January-March period of 2022.
At the level of the standalone financial statement, the company’s losses declined to EGP 116,962 during the January-March period of this year, compared to EGP 42.534 million in the first three months of 2022.
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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