Qalaa Holdings’ consolidated profits shoot up 419% YoY in 2023
Updated 5/7/2024 10:10:00 AMArab Finance: Qalaa Holdings’ consolidated net profits after tax and non-controlling interest soared by 419.2% year on year (YoY) in 2023, hitting EGP 6.523 billion, compared to EGP 1.256 billion, according to a statement.
Meanwhile, revenues rose to EGP 97.131 billion last year, up from EGP 82.718 billion the year before.
As for the standalone results, the company incurred EGP 2.49 billion in net losses after tax in 2023, compared to EGP 1.916 billion in 2022.
Qalaa Holdings is an Egypt-based company engaged in private equity investment activities.
The company manages an investment portfolio that consists of 19 opportunity-specific funds and spans 14 industrial sectors such as energy, cement manufacturing, solid waste management, real estate, mining, agricultural, glass manufacturing, transportation, and metallurgy.
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