Al Orouba Securities’ losses soar 640.5% YoY in Q1 2024

Updated 5/27/2024 2:42:00 AM
Al Orouba Securities’ losses soar 640.5% YoY in Q1 2024

Arab Finance: Al Orouba Securities Brokerage Company’s (EOSB) net losses after tax hiked 640.54% year on year (YoY) in the first quarter (Q1) of 2024, according to the company's financial indicators on May 27th.

The company incurred net losses after tax of EGP 2.698 million in Q1 2024, versus EGP 364,273 in Q1 2023.

Similarly, revenues dropped to EGP 314,155 in the three-month period ended March 31st from EGP 629,275 in the same period a year earlier.

Established in 1987 and listed on EGX in 2008, Al Orouba operates within the diversified financial sector, focusing on investment banking and brokerage.

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