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FINANCIAL NEWS
Egypt’s Qalaa Holding records USD98mn income
18 Dec 2016
(MENAFN) Qalaa Holdings has reported incomes of USD98mn in the third quarter of this year with the largest contributions coming from the energy at 45 percent and cement at 32pct sectors.
However, the firm also reported a net loss after minority interest of EGP207.6mn, while the 21 percent improvement in profits was attributed to a 25 percent grow in Taqa Arabia incomes.
Accordingly, the firm’s performance amid the cited period continues to reflect the resilience of its subsidiaries in the face of a growing challenging operating environment.
Furthermore, Qalaa and its portfolio firms will be affected by the current economic policies rolled out by the Egyptian government.
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