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Qalaa Holdings loss balloons 195% in H1

Qalaa Holdings loss balloons 195% in H1
The company’s revenues hiked to EGP 17.8 billion
Qalaa Holding
CCAP
0.00% 2.71 0.00

Cairo – Mubasher: Qalaa Holdings incurred consolidated net losses of EGP 1.12 billion in the first half (H1) of 2020, up by 194.68% year-on-year (YoY) from EGP 379.13 million, including minority shareholders’ rights.

The company’s revenues hiked to EGP 17.8 billion in the six-month period ended 30 June from EGP 7.2 billion in the same period in 2019, according to a bourse disclosure on Thursday.

As for standalone business, the company suffered net losses of EGP 260 million in H1-20, compared to EGP 151.23 million in H1-19.

During the first three months of 2020, Qalaa Holdings reported net losses of EGP 1.58 billion, up by 824% YoY from EGP 171.4 million, including minority shareholders' rights.