Cairo – Mubasher: Orascom Development Holding (ODH) logged a net loss of EGP207 million (CHF 22.5 million) in the fiscal year 2015, against a net profit of EGP332.8 million (CHF 36.1 million) a year earlier, according to ODH consolidated financial results.
Meanwhile, unconsolidated results indicated the company lost a net of CHF19 million during the same fiscal year.
The company ascribed these negative results to losses from its stakes in Andermatt Swiss Alps AG and Orascom Company for Cooperative Housing.
Financial results for the first nine months of 2015 showed a net profit of EGP 308 million, compared to EGP 97 million for the year-ago period.
