Cairo – Mubasher: Orascom Investment Holding (OIH) posted consolidated net profits after tax valued at EGP 86.13 million in the first half (H1) of 2023.
The recorded profits were lower than EGP 105.32 million in H1-22, including minority interest, according to the consolidated income statements.
Basic and diluted earnings per share(EPS) from continuing operations hit EGP 0.016 in the first six months (6M) of 2023, versus EGP 0.008 a year earlier.
Total assets amounted to EGP 4.65 billion as of 30 June 2023, up from EGP 4.02 billion as of 31 December 2022.
Standalone Financials
The EGX-listed firm posted an annual plunge in standalone net profit after tax to EGP 13.01 million during H1-23, compared to EGP 448.88 million.
Non-consolidated basic and diluted EPS from continuing operations plummeted to EGP 0.002 in 6M-23 from EGP 0.012 in 6M-22.
Financial Statements for Q2-23
During the second quarter (Q2) of 2023, Orascom Investment Holding turned to consolidated net losses amounting to EGP 22.81 million, against net profits of EGP 18.77 million in Q2-22, including non-controlling equity.
The basic and diluted loss per share from continuing operations reached EGP 0.004 in April-June 2023, compared to a profit per share of EGP 0.003 a year earlier.
As for the standalone business, the company shifted to net losses after tax standing at EGP 51.44 million in Q2-23, versus net profits of EGP 13.94 million a year earlier.
During the three-month period that ended on 30 June 2023, the basic and diluted standalone loss per share from continuing operations stood at EGP 0.010, compared to a profit per share of EGP 0.003 in the year-ago period.
In Q1-23, the consolidated net profits of Orascom Investment reached EGP 108.94 million, an annual increase from EGP 86.54 million.
