Record test volumes and pickup in footfall fueled strong quarter: Integrated Diagnostics Holdings (IDH) logged EGP 176 mn in net income for 3Q 2023, up from a net loss of EGP 36 mn in the same period last year that was attributable to a one-off expense, according to the company’s earnings release (pdf). Consolidated revenues for the quarter were up 40% y-o-y to EGP 1.2 bn, driven by a quarterly record of over over 10 million tests and a pickup in patient footfall mainly in Egypt and Jordan.

Marginal dip in 9M bottom line: IDH’s net income fell 4% y-o-y in the first nine months of 2023 to EGP 387 mn, while revenues increased 9% y-o-y to EGP 3.1 bn on the back of a 16% increase in conventional test volumes and 24% increase in average revenue per test.

What they said: “While our results from the first half of the year were somewhat diluted by increasing inflationary environments, particularly in our home market, Egypt, as well as several seasonal slowdowns due to the holy month of Ramadan and other holidays, the company’s strong performance in the third quarter of the year has significantly outpaced the past two quarters,” IDH’s CEO Hend El Sherbini said.

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