Cairo – Mubasher: Orascom Development Egypt has posted a 16.90% year-on-year (YoY) surge in sales to EGP 4.70 billion during the first half (H1) of 2022.

The listed firm pointed out that the sales value marked the highest H1-record in its history, according to a bourse filing.

Meanwhile during the second quarter (Q2) of 2022, the company’s sales amounted to EGP 2.70 billion, an annual growth of 39.40% from EGP 1.90 billion.

During the January-March 2022 period, Orascom Development Egypt generated EGP 1.93 billion in revenue, an increase of 32.30% from EGP 1.45 billion in the year-ago period.

In addition, the consolidated net profits reached EGP 463.70 million in Q1-21, up 5.70% YoY from EGP 438.46 million.