Cairo – Mubasher: Qalaa Holdings on Sunday posted it has turned profitable during the first half of 2018 with a consolidated profit of EGP 233.28 million, compared to EGP 3.67 billion in losses in the same period a year earlier.
Revenues grew to EGP 6.2 billion in the six-month period ended June, versus EGP 4.3 billion in H1-17, the Cairo-based company added in a filing to the Egyptian Exchange (EGX).
On the other hand, standalone losses stood at EGP 2.3 million in H1-18, compared to EGP 102.43 million in the prior-year period.
It is worth noting that Qalaa Holdings, which has operations in a slew of industries including energy, cement, and logistics, previously 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.
