Cairo – Mubasher: Orascom Investment Holding on Thursday posted a 91% year-on-year growth in its consolidated profits for fiscal year 2018.
The company logged EGP 865.59 million in profits for the 12-month period ended 31 December 2018, versus EGP 453.12 million in 2017, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX).
Operating revenue amounted to EGP 1.7 billion last year, versus EGP 1.4 billion a year earlier, the Egyptian giant owned by billionaire Naguib Sawiris added.
At the level of standalone business, the company achieved a profit of EGP 58.79 million in 2018, compared to EGP 606.14 million in 2017.
It is worth noting that Orascom Investment previously reported an EGP 1.07 billion in consolidated profits for the nine-month period ended September 2018, versus EGP 239.9 million in the corresponding period of 2017.
