IDH sees 41.7% YoY fall in Q1 consolidated profit: Egypt

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Integrated Diagnostics Holdings (IDH) reported a 41.7% year-on-year (YoY) decline in its consolidated net profits attributable to the parent company in the first quarter (Q1) of 2023, according to the company’s financial income statements.

Consolidated net profit after minority interest stood at EGP 172.90 million in the three months to March 31st, compared to EGP 296.609 million in the prior year quarter.

Revenues recorded EGP 915.291 million in Q1 2023, down from EGP 1.18 billion in Q1 2022.

On the other hand, the company incurred a standalone loss of $919,676 in Q1 2023, up from $127,225 in the same period of 2022.

IDH is a consumer healthcare company in the Middle East and Africa with operations in Egypt, Jordan, Sudan, and Nigeria.

The group’s core brands include Al Borg, Al Borg Scan, and Al Mokhtabar in Egypt, as well as Biolab in Jordan, Ultralab, and Al Mokhtabar Sudan both in Sudan and Echo-Lab in Nigeria.