IDH Releases 1H 2023 Financial Results
(Cairo and London) — Integrated Diagnostics Holdings (“IDH,” “the Group,” or “the Company”), a leading provider of diagnostic services with operations in Egypt, Jordan, Nigeria, Sudan, and soon launching in Saudi Arabia, announced today its reviewed financial statements for the six-month period ended 30 June 2023, booking revenues of EGP 1,872 million, down 4% from the figure recorded during the same period of 2022 when Covid-19-related testing had significantly boosted results. Excluding the contributions made by IDH’s Covid-19-related offering in 1H 2022, the Company’s conventional business recorded robust year-on-year growth of 40%, continuing to showcase the underlying health of IDH’s business. The strong performance delivered by the Company’s conventional segment was driven by 24% and 13% year-on-year increases in average revenue per conventional test and conventional test volumes, respectively. IDH posted a net profit of EGP 211 million in 1H 2023, down 52% year-on-year due to significant contributions from Covid-19-related testing (31% of 1H 2022 revenues) in the same period of the previous year.