Cairo –  Orascom Investment Holding (OIH) has recorded consolidated net profits after tax worth EGP 563.96 million in 2021, against net losses of EGP 103.22 million in 2020.

The operating revenues widened to EGP 27.92 million in the 12-month period that ended on 31 December 2021, compared to EGP 4.69 million a year earlier, according to a bourse filing on Thursday.

Meanwhile, the standalone net profits after tax reached EGP 42.1 million in 2021, lower than EGP 115.77 million in 2020.

In the first nine months (9M) of 2021, the company registered consolidated net losses worth EGP 46.07 million, down 157.5% from EGP 17.89 million in 9M-20.

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