Orascom Investments’ consolidated profits climb 61.2% YoY in H1
Updated 8/31/2023 9:32:00 AM
Arab Finance: Orascom Investment Holding’s (OIH) consolidated net profits attributable to the parent company rose by 61.22% year-on-year (YoY) during the first half (H1) of 2023 to EGP 533.534 million from EGP 330.924 million, according to the financial statement filed to the Egyptian Exchange (EGX) on August 31st.
Operating revenues reached EGP 76.956 million during H1 2023, up from EGP 38.690 million in H1 2022.
The company previously reported a 97.01% YoY drop in standalone profits in H1 2023, recording EGP 13.014 million.
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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