Arab Finance: Orascom Investment Holding (OIH) switched to profitability during the first nine months of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on November 16th.

The company recorded a standalone net profit of EGP 624.626 million in the nine months to September 30^th, compared to a net loss of EGP 71.056 million in the same period a year earlier.

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

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