Cairo – Mubasher: Qalaa Holdings on Tuesday reported a slight rise in its consolidated losses during the full-year ended December 2017.
Net loss totalled EGP 5.9 billion last year, versus EGP 5.6 billion in 2016, the company said in a filing to the Egyptian Exchange (EGX).
Revenue grew to EGP 9.28 billion in 2017, up from EGP 7.6 billion a year earlier.
Meanwhile, standalone losses plunged 77% year-on-year to EGP 452.3 million last year, against losses of EGP 2.003 billion.
The company had previously posted a 203% hike in consolidated losses for the nine-month period ended September 2017, recording EGP 3.08 billion from EGP 1.3 billion.
It is worth noting that Qalaa Holdings’ stock has recently seen a bullish trend, recording a 122% rise since the beginning of 2018.
