Egypt: Orascom Development's consolidated profits rise 9.89% YoY in 2024
Arab Finance: Orascom Development Egypt posted a 9.89% uptick in its consolidated net profits after minority interest, recording EGP 3.108 billion during 2024, compared to EGP 2.828 billion in 2023, according to the company's financial statements filed to the Egyptian Exchange (EGX) on March 11th.
Revenues reached EGP 21.794 billion last year, up from EGP 15.326 billion a year earlier.
In terms of the standalone business, the firm's net profits after tax amounted to EGP 1.334 billion, compared to EGP 1.657 billion.
ODE, the largest subsidiary of Orascom Development Holding (ODH), is a developer of resort towns, residential units, hotels, and recreational facilities such as golf courses, town centers, and marinas, in addition to supporting infrastructures, such as hospitals, schools, and utilities.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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