IDH Releases 9M 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 nine-month period ended 30 September 2023, booking its strongest quarter since the start of the year. IDH recorded consolidated revenues of EGP 1,182 in Q3 2023 million, yielding 40% year-on-year and 24% quarter-on-quarter growth rates.
On a year-to-date basis, IDH recorded consolidated revenues of EGP 3,054 million, a 9% year-on-year expansion versus the high base of 9M 2022, which had included EGP 678 million in Covid-19-related revenues (constituting 24% of the Company’s top-line). Meanwhile, the Company booked conventional revenue growth of 44% year-on-year in 9M 2023, supported by a 16% year-on-year increases in test volumes coupled with a 24% year-on-year increase in average revenue per conventional test. Further down the income statement, the Company posted a net profit of EGP 387 million in 9M 2023, representing a marginal 4% year-on-year decline from the figure reported in the same period of last year and yielding a net profit margin (NPM) of 13%.