Cairo Housing cuts consolidated loss by 77.7% YoY in Q1
Updated 6/5/2022 11:18:00 AM
Arab Finance: Cairo Housing and Development Company (ELKA) has reduced its consolidated loss attributable to the parent company by 77.67% year-on-year (YoY) during the first quarter (Q1) of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on June 5th.
The company’s consolidated loss plunged to EGP 5.389 million in Q1 2022 from EGP 24.132 million in Q1 2021.
Consolidated operating revenue soared to EGP 523.786 million in the three-month period ended March 31st from EGP 387.996 million in the year-ago period.
Moreover, the company reported a standalone net loss after tax of EGP 2.26 million in the January-March period of 2022, down from EGP 38.064 million during the same period a year earlier.
Cairo Housing is an Egypt-based firm engaged in real estate and housing development operations.
The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities.
