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ArabFinance: Orascom Investment Holding (OIH) has turned to profitability in the full year ended December 31st 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX).
The company has recorded a consolidated net profit attributable to the parent company of EGP 305.23 million in 2021, versus a net loss of EGP 381.44 million in 2020.
Moreover, OIH has generated consolidated operating revenue of EGP 27.92 million last year, surging from EGP 4.69 million in 2020.
On the other hand, the company’s standalone net profit after tax fell to EGP 42.107 million in 2021 from EGP 115.77 million in 2020.
OIH, formerly Orascom Telecom Media and Technology Holding, is an Egypt-based holding company engaged in the telecommunications sector.
It mainly engages in global systems for mobile communications, media and technology, cable, energy, financial, real estate, and entertainment businesses.
