Arabia Investments achieves higher profit
Updated 11/15/2020 3:20:00 PM
ArabFinance: Arabia Investments Holding (AIH) reported a 21% Year on Year increase in its consolidated net profit in the first nine months of 2020, according to the company’s November 15th financial statements filed to the Egyptian Exchange.
Consolidated net profit before minority interest stood at EGP 44,151,189 in the January-September period of 2020, compared to EGP 36,593,878 achieved in the prior-year period.
Standalone net loss reached EGP 6,888,748 in the January-September period of 2020, a 128% rise from EGP 3,023,438 incurred in the corresponding period a year earlier.
Earlier, AIH announced restructuring Cairo For Development and Cars Manufacturing by settling the latter's debt with Suez Canal Bank.
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.
