Cairo – Mubasher: Arabia Investments, Development, and Financial Investment Holding Co on Tuesday reported a 1,292% year-on-year hike in consolidated losses for the first nine months of 2017.
Net loss amounted to EGP 142.85 million in the nine-month ended September 2017, up from EGP 10.26 million in the prior-year period, the company highlighted in a filing to the Egyptian Exchange (EGX).
Revenues retreated to EGP 969.6 million in the nine-month period of 2017, against revenues of EGP 1.2 billion in the corresponding period of 2016.
Standalone losses stood at EGP 2.3 million in the first nine months of 2017, versus profits of EGP 10.3 million in the year-ago period.
In first half of 2017, Arabia Investments’ consolidated losses totalled EGP 16.3 million, compared to EGP 22.56 million in H1-16, including minority shareholders’ rights.
