Thndr Claps » EGY Claps » Earnings 📈 » Orascom Development profits up in H1 2022 🏘
The ClapOrsacom Development’s (ORHD) profit increased by 15.3% YoY to reach EGP 858.3 million during H1 2022, while revenues increased by 27.6% YoY to reach EGP 3.8 billion.The DeetsThe biggest driver of the increase in revenue and profit was speeding up the building process as well as an improvement in the hotel sector’s performance. Highest Revenues in a HalfIn 6 months, Orascom managed to record EGP 4.7 billion in sales, a 16.9% increase YoY and the highest recorded revenues for 6 months in the company’s history.The O West project had the highest contribution to sales at 51.4%, followed by El Gouna with a 42.1% contribution.
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