AIH’s consolidated profit drops 35% YoY in H1: Egypt

AIH’s consolidated profit drops 35% YoY in H1: Egypt

Arabia Investments Holding (AIH) reported a 35.41% year-on-year (YoY) decrease in consolidated net profit attributable to the holding company for the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 15th.

Consolidated net profit excluding minority interest stood at EGP 21.816 million in H1 2023, compared to EGP 33.775 million in H1 2022.

Operating revenues climbed to EGP 604.277 million during the first six months of 2023, compared to EGP 570.009 million during the January-June period of 2022.

At the level of the standalone financial statement, the company’s net profits after tax declined to EGP 113,404 during the January-June period of this year, compared to EGP 37.009 million in the first six months of 2022.

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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