Cairo – Mubasher: Qalaa Holdings announced turning into profits during 2018, according to the company’s consolidated financial statements.
Net profits amounted to EGP 929.06 million in the 12-month period ended 31 December 2018, against losses of EGP 5.71 billion in 2017, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Year-on-year, the company’s revenues rose to EGP 13.16 billion last year, compared to EGP 10.5 billion in 2017.
As for standalone business, the company’s losses fell to EGP 219.54 million in 2018 from EGP 600.96 million a year earlier.
During the first nine months of 2018, the company’s net profits registered EGP 298.42 million, against net losses of EGP 4.13 billion in the year-ago period.
Revenues rose to EGP 9.39 billion in the January-to-September period of 2018, compared to EGP 6.44 billion in the same period of 2017.
