Cairo – Mubasher: Beltone Financial Holding announced succumbing into losses during the first quarter of 2019, according to the company’s consolidated financial statements.
The company suffered net losses of EGP 23.19 million in the three-month period ended 31 March, against a profit of about EGP 760,220 in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Year-on-year, revenues retreated to EGP 138.77 million in Q1-19 from EGP 182.45 million.
As for standalone business, the company’s net losses increased to EGP 10.5 million in the January-March period of 2019, compared to EGP 7.12 million in the same period a year earlier.
For the full-year 2018, the company incurred net losses of EGP 82.41 million, versus a profit of EGP 3.2 million in the previous year.
