Cairo – Mubasher: Orascom Financial Holding (OFH) swung to consolidated net profits valued at EGP 29.52 million during the first nine months (9M) of 2023.
The negative results were compared with net losses of EGP 161.64 million in 9M-22, including minority interest, according to the consolidated financial statements.
Basic earnings per share (EPS) reached EGP 0.01 as of 30 September 2023, versus a loss per share of EGP 0.02 in the year-ago period.
The company reported total assets amounting to EGP 2.65 billion in 9M-23, up from EGP 2.56 billion as of 31 December 2022.
Financial Results for Q3-23
In the third quarter (Q3) of 2023, the consoldiated net losses after tax plummeted to EGP 13.05 million from EGP 46.88 million in Q3-22, including non-controlling interest.
As for the standalone business, Orascom Financial Holding turned profitable at EGP 123.04 million in 9M-23, compared to net losses valued at EGP 222.96 million in 9M-22.
During the first half (H1) of 2023, the EGX-listed shifted to consolidated net profits worth EGP 42.57 million, versus net losses of EGP 114.76 million in January-June 2022.
