Egypt-based Orascom Investment Holding (OIH) incurred higher net losses of EGP 153.3 mn in the first half of 2019, compared to EGP 141.2 mn recorded during the prior-year period, Invest-Gate reports.

Revenues fell to EGP 792.4 mn in H1 2019, compared to EGP 823.5 mn a year earlier, based on the company’s latest financial statements.

In Q2 2019, net losses rose to EGP 74.6 mn from EGP 41.6 mn in the same period last year.

In November, the company, formerly known as Orascom Telecom Media and Technology Holding (OTMT), said plans to acquire 30% of Sarwa Capital’s shares, particularly due to the deal’s attractive price.