Cairo – Mubasher: Orascom Financial Holding (OFH) turned profitable at EGP 42.57 million in the first half (H1) of 2023, against consolidated net losses worth EGP 114.76 million in H1-22.
Total assets amounted to EGP 2.61 billion during H1-23, up from EGP 2.56 billion as of 31 December 2022, according to the consolidated financial results.
As for the standalone business, Orascom Financial Holding registered EGP 115.32 million in net profit after tax in the first six months (6M) of 2023, compared to net losses of EGP 234.45 million a year earlier.
In the second quarter (Q2) of 2023, the EGX-listed firm shifted to consolidated net profits valued at EGP 22.76 million, versus losses of EGP 142.19 million in Q2-22.
On a quarterly basis, the Q2-23 consolidated net profits were higher than EGP 19.81 million in Q1-23.
