Orascom Development Egypt, the prominent subsidiary of Orascom Development Holding (ODH), owned by Egyptian billionaire Samih Sawiris, has reported a 65-percent increase in consolidated revenues for the first half (H1) of 2024.
The company's revenues reached EGP 10.21 billion ($208 million), an increase from EGP 6.19 billion in the same period the previous year.
Despite this revenue growth, the consolidated net profits were EGP 942.76 million ($19.20 million), slightly down from over EGP 1 billion ($20.37 million) recorded in H1-23, leading to an earnings per share (EPS) of EGP 0.59 ($0.012), down from EGP 0.78 ($0.016) the previous year.
The company's total assets also grew reaching EGP 47.04 billion ($957.98 million) as of June 30, 2024, compared to EGP 39.23 billion ($799.06 million) at the end of December 2023 .
