Cairo – Mubasher: The consolidated net profits of Orascom Development Egypt (ODE) soared by 26.44% yearly during the first nine months (9M) of the year to EGP 1.53 billion, compared to EGP 1.21 billion, including minority shareholders’ rights.
The company registered EGP 6.68 billion in 9M-22 revenues, a surge from EGP 4.90 billion in 9M-21, according to a bourse filing on Monday.
In the meantime, the company reported standalone net profits of EGP 1.03 billion during the period from January to September 2022, up from EGP 778.01 million in the year-ago period.
During the July-September 2022 period, the firm’s profits netted EGP 672.42 million, compared to EGP 468.82 million in the year-ago period, while revenue rose to EGP 2.86 billion from EGP 1.90 billion.
In the first half (H1) of 2022, the net profits of Orascom Development Egypt grew by 15.3% year-on-year (YoY) to EGP 858.30 million, compared with EGP 744.6 million, including minority shareholders’ rights.
