Cairo – Orascom Investment Holding (OIH) turned to profits in the first half (H1) of 2022, earning EGP 105.32 million in consolidated net profits, against net losses of EGP 66.55 million in H1 of 2021.

Basic and diluted earnings per share (EPS) during H1-22 were EGP 0, versus a basic and diluted loss per share worth EGP 0.02 in H1-21, according to a bourse filing on Thursday.

Operating revenue during the six-month period ended 30 June 2022 stood at EGP 38.69 million, up from EGP 13.09 million in the same period in 2021.

In the second quarter (Q2) of 2022, the EGX-listed firm achieved net earnings of EGP 18.77 million, versus net losses of EGP 35.52 million in the same quarter a year earlier. Basic and diluted EPS reached EGP 0 in Q2-22, compared to a basic and diluted loss per share of EGP 0.02 in Q2-21.

The company further recorded operating revenue of EGP 30.62 million in Q2-22, compared to EGP 7.71 million in Q2-21.

It is worth pinpointing that in Q1-22, Orascom Investment Holding achieved consolidated net profits of EGP 86.54 million, against net losses of EGP 31.03 million in the year-ago period, including minority shareholders' rights.

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