Orascom Financial Holding turns profitable in 9M-23

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Cairo – Orascom Financial Holding (OFH) shifted to net profits standing at EGP 123.04 million in the first nine months (9M) of 2023, against net losses worth EGP 222.96 million in 9M-22.

Basic earnings per share (EPS) hit EGP 0.02 in January-September 2023, compared to a loss per share valued at EGP 0.04 in 9M-22, according to the financial statements.

Total assets grew to EGP 2.49 billion in 9M-23 from EGP 2.38 billion as of 31 December 2022.

Financial Results for Q3-23

In the third quarter (Q3) of 2023, the net profits after tax amounted to EGP 7.71 million, lower than EGP 11.48 million in Q3-22.

The basic EPS retreated to EGP 0.001 in Q3-23 from EGP 0.002 a year earlier.

During the first half (H1) of 2023, Orascom Financial Holding swung to net profits valued at EGP 42.57 million, versus net losses of EGP 114.76 million in H1-22.