Cairo – Mubasher: Arabia Investments, Development and Financial Investment Holding posted that its net consolidated losses for 2016 soared by 512.97% in the first quarter of 2016, according to a bourse filing.
The losses widened to EGP 32.81 million ($3.7 million) in Q1 from EGP 5.35 million ($603,980) for the first quarter of 2015.
Meanwhile, its unconsolidated results revealed a rise in net profit by 304.35% to EGP 7.35 during the same period, compared with EGP 1.82 million for the year-ago quarter.
Over 2015, the company logged EGP 7 million losses against a net profit of EGP 40.23 million a year earlier.
