Earnings watch: Orascom Investment reports EGP 61.2 mn profit in 3Q2019

EARNINGS WATCH- Orascom Investment reports EGP 61.2 mn profit in 3Q2019: Orascom Investment Holding (OIH) posted a EGP 61.2 mn net profit in 3Q2019, down from EGP 1.21 bn a year earlier, according to the company’s financial statement (pdf). Revenue for the period came in at EGP 344.3 mn, down from EGP 384.6 mn in 3Q2018. The company recorded a net loss of EGP 92.4 mn over the first nine months of 2019, compared to EGP 1.1 bn profit in 2018. The latest quarterly earnings statement see the company returning to profit after posting net losses of EGP 153.4 mn during the first half of the year.