Orascom Investment Holding Company announced the completion of the preconditions for the sale of the floors owned by its subsidiaries in the Patio Victor Malzoni Condominium building located in the state of Sao Paulo, Brazil, and the completion of the sale process.
The company stated that the total proceeds of the sale amounted to about 77.6 million dollars, equivalent to about 1.211 billion pounds.
She stated that the company’s management is currently studying the available opportunities that are compatible with the company’s investment policy to invest the proceeds of the sale, which would maximize the profits of the company and shareholders.
Orascom Investment Holding Company achieved consolidated net losses of 66.6 million pounds during the first six months of this year, compared to 1.7 million pounds in profits in the comparative half of last year.
Operating income, according to the income statement sent to the stock exchange today, rose to 427,270 million pounds in the period from January to the end of last June, compared to 356.747 million pounds in the corresponding period.
Operating profits rose during the same period to 37.345 million pounds, compared to 9.902 million pounds in the comparable period.
Financing expenses rose during the first six months of this year to 38.678 million pounds, compared to 32.432 million pounds compared to the same period last year.
In terms of independent businesses, the company achieved net losses of 59.586 million pounds during the first half of this year, compared to 49.782 million pounds in profits in the first half of last year.
Revenues jumped during the same period to 15.290 million pounds, compared to 35,000 pounds in the comparable period.
The article “Orascom Investment” sells the roles owned by it in Brazil for 1.21 billion pounds was written in Al Borsa newspaper.