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Citadel Q1 losses increase 55%

Citadel Q1 losses increase 55%
Revenues grew in Q1-17 to EGP 2.1 billion from EGP 1.7 billion
Qalaa Holding
CCAP
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Cairo – Mubasher: Citadel Capital’s consolidated losses for the first quarter of fiscal year 2017 rose 55% to EGP 546.64 million, versus EGP 352.07 million for Q1-16.

However, revenues grew in Q1-17 to EGP 2.1 billion from EGP 1.7 billion for Q1-16, a bourse filing said on Sunday.

Standalone losses for Q1-17 also worsened by 36.5% to EGP 44.75 million, compared to EGP 32.78 million for Q1-16.