Monday, 29 November 2021

OFH’s 3Q2021 net income reaches EGP 17.9 mn

EARNINGS WATCH- Orascom Financial Holding’s net income came in at EGP 17.9 mn in 3Q2021, with net earnings of EGP 54.6 mn since its inception in December last year, according to the company’s financials (pdf). The Orascom Investment Holding spinoff reported EGP 107.6 mn in operating revenues for the quarter, and brought in EGP 268.9 mn since a demerger that concluded earlier this year and saw the company start trading separately on the EGX.

EDITOR’S NOTE- This story was amended on 29 November to correct the operational revenue figures. 

MARKET WATCH-

The EGX30 fell 0.6% at today’s close on turnover of EGP 955 mn (33.7% below the 90-day average). Local investors were net buyers. The index is up 3.4% YTD.

In the green: Aspire Capital (+5.5%), Pioneers Properties (+4.3%) and Orascom Development Egypt (+3.5%).

In the red: Eastern Company (-10.1%), Speed Medical (-3.0%) and AMOC (-2.6%).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.