OIH turns to a profit in 9 months
Updated 12/5/2022 10:01:14 AM
Arab Finance: Orascom Investment Holding (OIH) turned to profitability during the first nine months of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on December 5th.
The company recorded a consolidated net profit attributable to the parent company of EGP 548.82 million in the nine-month period ended September 30th, compared to a net loss of EGP 142.09 million in the same period a year earlier.
The company achieved a standalone net profit of EGP 624.626 million in the nine-month period of 2022, versus a net loss of EGP 71.056 million in the same period of 2021.
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.
