Earnings watch: IDH reports 2% growth in net profit in 2019

EARNINGS WATCH- Integrated Diagnostics Holdings (IDH) reported a 2% y-o-y growth in net profit to EGP 505 mn in 2019, up from EGP 497 mn the previous year, according to a company earnings release. The LSE-listed consumer healthcare company’s revenues for the year also rose 16% to EGP 2.23 bn, up from EGP 1.92 bn in 2018. IDH’s 2019 performance comes despite “sluggish consumer spending” in Egypt — its primary market — and political and economic challenges in Sudan, said CEO Hend El Sherbini. IDH companies include Al Borg and Al Mokhtabar in Egypt as well as subsidiaries in Jordan, Sudan, and Nigeria.