Profits of Orascom Investment jump 91% in 2019

CAIRO - 4 April 2019: Orascom Investment Holding almost doubled its consolidated profits during 2018, recording gains of LE 865.59 million, compared to LE 453.13 million including minority rights during 2017, with an increase of 91 percent.

The company’s financial indicators revealed that the operating revenues reached LE 1.75 billion in 2018, compared to LE 1.48 billion in the prior year.

As per standalone results, Orascom Investment accomplished profits of LE 58.79 million in 2018, compared to LE 606.14 million in 2017, with a decline of 90.3 percent.

During the first nine months of 2018, the company achieved consolidated profits of LE 1.07 billion, compared to LE 239.9 million in the same period of 2017.

Earlier on Thursday, OIH’s board of directors ratified the approval of the independent financial advisor’s report (BDO Financial Consultants), which has set the fair value of the share capital of Nile Sugar Company SAE at LE 2.84 per share with a total value of LE 3.76 billion.

Orascom Investment Holding works in the fields of GSM, media, cables and mobile communications in Egypt, North Korea and Lebanon.