Cairo – Mubasher: Qalaa Holdings on Monday reported a 69% year-on-year decline in consolidated losses for the first quarter of 2018, recording a net loss of EGP 183.9 million from EGP 596.08 million.
Revenues grew to EGP 3.08 billion in the three-month period ended last March, versus EGP 2.11 billion in Q1-17, the company added in a filing to the Egyptian Exchange (EGX).
On the other hand, standalone losses amounted to EGP 63.37 million in Q1-18, compared to EGP 44.7 million in the prior-year period.
Standalone revenues rose slightly to EGP 26.8 million in the first three months of 2018 from EGP 26.7 million in Q1-17.
It is worth noting that Qalaa Holdings previously posted an EGP 5.9 billion in consolidated losses for the full-year ended December 2017, against EGP 5.6 billion in losses for 2016.
