OFH shifts towards standalone profitability in 3 months
Updated 11/15/2022 3:19:00 PM
Arab Finance: Orascom Financial Holding (OFH) turned to standalone profitability during the three-month period that ended on September 30th, according to the financial statements filed to the Egyptian Exchange (EGX) on November 15th.
The company recorded a standalone net profit after tax of EGP 11.487 million in July-September, compared to a net loss of EGP 5.677 million in the same period of 2021.
It is worth noting that the company reported a consolidated loss attributable to the parent company of EGP 92.918 million in the second quarter (Q2) 2022, compared to a net profit of EGP 16.612 million in Q2 2021.
Founded in 2020, OFH is a technology-driven financial service investment company. The company is traded on the Egyptian Exchange under the symbol OFH.CA.
