The Clap
Integrated Diagnostics Holding (IDHC) recorded a decline in profits in Q1-2022 by 8% YoY. The company’s net profits stood at EGP 314 million, compared to EGP 342 million in Q1-2021.
The deets
The decline in profits came despite an increase in revenues, which rose by 5% YoY, recording EGP 1.180 billion.
The company’s geographical expansion aided in revenue growth, including the opening of 20 new branches since the start of 2022.
Profits on the other hand were affected by a decrease in demand for COVID-19-related analysis as infection rates started to decline.
Cash dividends
The company will distribute EGP 2.17/share, totaling EGP 1.3 billion in cash distributions for the year 2021. This marks company’s largest cash distribution.
To read IDH’s earnings statement, click here.
