Arabia Investments Holding’s consolidated profits dip 38% YoY in 9 months
Updated 11/15/2023 10:50:00 AM
Arab Finance: Arabia Investments Holding’s (AIH) consolidated net profits after tax and non-controlling interest dropped 38% year on year (YoY) to EGP 27.147 million in the first nine months of 2023, versus EGP 43.811 million, a filing showed on November 15th.
Consolidated revenues increased to EGP 939.339 million from EGP 899.655 million.
In terms of standalone business, the firm’s net profits after tax plunged to EGP 398,524 in the January-September period of 2023, down from EGP 32.639 million in the same period of the year prior.
Meanwhile, standalone revenues declined to EGP 14.319 million from EGP 49.502 million.
AIH, formerly Arabia Investments Development Financial Investments Holding Company, is an Egypt-based company that invests in fields such as power, building materials, automotive, and oil and gas.
The company focuses on diversified development, offering infrastructure, construction, and industrial solutions.
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