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Qalaa Holdings swings to profits in 9M-22

Qalaa Holdings swings to profits in 9M-22
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Qalaa Holding
CCAP
2.77% 3.34 0.09

Cairo – Mubasher: Qalaa Holdings switched to consolidated net profits of EGP 11.86 billion during the first nine months (9M) of 2022, against net losses of EGP 4.51 billion in the year-ago period, including minority shareholders’ rights.

Basic earnings per share (EPS) reached EGP 6.52 in January-September 2022, versus losses per share of EGP 2.48 in January-September 2021, according to a stock exchange statement.

Revenues for 9M-22 soared to EGP 69.38 billion from EGP 30.97 billion in 9M-21.

As for the standalone business, the company’s net losses surged to EGP 1.49 billion during the January-September 2022 period, compared to EGP 301.49 million in the corresponding period in 2021.

During the first half (H1) of 2022, Qalaa Holdings turned to net profits of EGP 7.33 billion, against net losses of EGP 3.23 billion in H1-21, including minority shareholders’ rights.