Cairo – Orascom Financial Holding (OFH) has shifted to consolidated net losses of EGP 114.76 million in the first half (H1) of 2022, against net earnings of EGP 36.65 million in H1-21.

Basic loss per share reached EGP 0.01 in H1-22, compared to earnings per share (EPS) of EGP 0 in H1-21, according to a bourse filing on Tuesday.

The company’s total operating revenue during the six-month period ended 30 June 2022 stood at EGP 192.35 million, a rise from EGP 161.27 million in the year-ago period.

In the second quarter (Q2) of 2022, the company suffered net losses of EGP 142.19 million, versus net profits of EGP 17.27 million in Q2-21. Basic loss per share amounted to EGP 0.01 in Q2-22, compared to EPS of EGP 0 in Q2-21.

Total operating revenue for Q2-22 went up to EGP 87.43 million, compared to EGP 85.01 million in Q2-21.

As for the standalone business, the EGX-listed firm reported standalone net losses of EGP 234.45 million in H1-22, compared to net profits of EGP 55.17 million since the company's split until 30 June 2021.

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