Cairo – Mubasher: Qalaa Holdings said Monday that its losses widened by 38% in the first quarter of 2016, according to its consolidated financial statements.
The company logged EGP 292.9 million ($32.6 million) losses in the first quarter taking minority rights into consideration, compared with EGP 212.03 million ($23.6 million) for the year-ago quarter, a bourse filing indicated.
According to its standalone results, the company registered a net loss of EGP 32.78 million in Q1-16 against a net profit of EGP 7.45 million in Q1-15.
Over the course of 2015, losses cut by 10.5% year-over-year to EGP 1.23 billion from EGP 1.37 billion, according to its consolidated financial results.
