Orascom Investment’s earnings growth for 25.8% in Q1 of 2023

Orascom Investment Holding‘s combined profit grew by 25.8 percent during the first quarter of this year, registering more than 108.9 million Egyptian pounds compared to about 86.5 million pounds for the corresponding quarter of 2022.

However, the company’s operating losses shrank by 60.3 percent during the first three months of 2023, recording about 19.1 million pounds compared with 48.2 million pounds during the comparative period last year.

The revenues increased to reach 38 million pounds during the first three months of this year, compared to 8.06 million pounds in the same period last year.

The company aims to expand and increase its investments’ volume, despite the difficult economic conditions and challenges facing the global economy.

It is worth mentioning that Orascom Investment Holding reported profits of 428.04 million pounds in 2022, compared to profits of 861.22 million pounds in 2021.