Cairo – Mubasher: Orascom Investment Holding (OIH) turned profitable in the first nine months (9M) of 2022, gaining EGP 265.36 million in net profits, against net losses of EGP 46.07 million in the year-ago period.

Basic and diluted earnings per share (EPS) came in at EGP 0.03 during the January-September 2022 period, against a loss per share of EGP 0.04 in the same period in 2021, according to a bourse statement on Monday.

The operating revenues grew to EGP 59.24 million in 9M-22, compared to EGP 17.50 million in 9M-21.

During this year’s third quarter (Q3), the net profits of the EGX-listed company increased to EGP 160.04 million, compared to EGP 20.48 million in Q3-21.

In 9M-22, the company shifted to standalone net profits after tax worth EGP 624.62 million, against net losses of EGP 71.05 million in 9M-21.

In the first half (H1) of 2022, Orascom Investment Holding swung to consolidated net profits at a value of EGP 105.32 million, versus net losses of EGP 66.55 million in H1-22.