Cairo – Mubasher: Orascom Development Egypt (ODE) logged EGP 532.18 million in consolidated net profits in 2020, down by 21.6% year-on-year (YoY) from EGP 678.66 million.
The profits attributable to minority interests rose to EGP 39.14 million last year from EGP 26.88 million in 2019, according to a bourse disclosure on Tuesday.
The company’s revenues grew to EGP 4.98 billion last year from EGP 4.66 billion in 2019.
As for standalone business, ODE achieved net profits of EGP 403.8 million in 2020, down from EGP 634.12 million a year earlier.
During the first nine months of 2020, ODE logged net profits of EGP 357.4 million, down from EGP 501.2 million in the corresponding period a year earlier, including minority shareholders’ rights.
