Orascom Investment turns to loss in 2019

In December, the company appointed Hisham Siblini as Chief Operating Officer for its subsidiary Orascom Telecom Lebanon

  
Traders work at the Egyptian stock exchange in Cairo, November 19, 2014.

Traders work at the Egyptian stock exchange in Cairo, November 19, 2014.

REUTERS/Mohamed Abd El Ghany
ArabFinance: Orascom Investment Holding (OIH) incurred a consolidated net loss of EGP 425.221million in 2019, against EGP 865.598 million achieved a year earlier, according to the company’s May 6thfinancial statements.

Nevertheless, it suffered standalone net profit reached EGP 253.333 million in 2019, compared to the net profit of EGP 58.794 million achieved in 2018.

In December, the company appointed Hisham Siblini as Chief Operating Officer for its subsidiary Orascom Telecom Lebanon and its managed operation in Lebanon's Mobile Interim Company 1 ("Alfa").

OIH, formerly Orascom Telecom Media and Technology Holding SAE, is an Egypt-based holding company, primarily engaged in the telecommunications sector. The company’s activities are mainly divided into its Global System for Mobile Communications (GSM), Media and Technology, Cable, Energy, Financial, Real Estate, and Entertainment businesses.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From North Africa