Qalaa Holdings posts 21% loss decline in H1-21

The revenues increased

  
A trader works at the Egyptian stock exchange in Cairo, Egypt.

A trader works at the Egyptian stock exchange in Cairo, Egypt.

REUTERS/Mohamed Abd El Ghany
 
Cairo – Mubasher: Qalaa Holdings reported consolidated net losses of EGP 3.323 billion in the first half (H1) of 2021, down by 20.8% year-on-year (YoY) from EGP 4.08 billion, including minority shareholders' rights.

The net losses attributed to the parent company's shareholders shrank to EGP 880.08 million in H1-21 from EGP 1.11 billion in H1-20, while the losses attributed to minority interests declined to EGP 2.35 billion from EGP 2.96 billion, the company said in a bourse disclosure on Sunday.

The revenues increased to EGP 18.17 billion in the January-June period from EGP 17.83 billion in the year-ago period.

As for standalone business, the company logged net losses of EGP 194.9 million in H1-21, down from EGP 260.07 million in H1-20.

During the first quarter (Q1) of 2021, Qalaa Holdings reported consolidated net losses of EGP 1.95 billion, up from EGP 1.58 billion in Q1-20, including minority shareholders' rights.

Source: Mubasher

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