Orascom Financial Holding posts lower net profits in 9M-24

Total assets retreated to $49mln

Staff Writer, Mubasher

December 3, 2024

PHOTO

Cairo – Orascom Financial Holding (OFH) generated consolidated net profits valued at EGP 906,000 in the first nine months (9M) of 2024, an annual plunge from EGP 29.52 million.

Basic earnings per share (EPS) plummeted to EGP 0.0005 in 9M-24 from EGP 0.0106 during the same period in 2023, according to the financial results.

Total assets retreated to EGP 2.48 billion as of 30 September 2024 from EGP 2.62 billion in 2023,.

Financials for Q3-24

In the third quarter (Q3) of 2024, the company incurred consolidated net losses worth EGP 2.35 million, down year-on-year (YoY )from EGP 13.05 million.

Loss per share increased to EGP 0.0003 in Q3-24 from EGP 0.0002 in Q3-23.

As of 30 June 2024, the consolidated net profits after tax hit EGP 3.26 million, compared to EGP 42.57 million in the year-ago period.

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