ArabFinance: Arabia Investments Holding (AIH) said its consolidated net profit slipped 28% Year on Year in the first half (H1) of 2020, according to the company’s August 12th financial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 22,757,043 in H1 2020, compared to EGP 31,622,848 achieved in H1 2019.

Standalone net loss reached EGP 4,325,223 in H1, against a net profit of EGP  970,140 posted in H1 of 2019.

Earlier, AIH announced restructuring Cairo For Development and Cars Manufacturing (CDCM) by settling the latter's debt with Suez Canal Bank.

AIH, formerly Arabia Investments Development Financial Investments Holding Company, is an Egypt-based investment 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.