Cairo –  Beltone Financial Holding reported net losses of EGP 8.44 million in the first three months of 2020, down by 74% year-on-year from EGP 33.3 million, the consolidated financial statements showed.

The company’s revenues increased to EGP 67.9 million in the January-March period from EGP 59.8 million in the corresponding period a year earlier, according to a disclosure to the Egyptian Exchange (EGX) on Thursday.

As for standalone business, Beltone Financial Holding suffered net losses of EGP 14.65 million in the first quarter of 2020, compared to EGP 10.5 million in the year-ago period.

It is noteworthy to mention that in 2019, the EGX-listed firm incurred net losses of EGP 91.5 million, compared to EGP 82.4 million in 2018.

Source: Mubasher

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