The company recorded a net loss worth EGP 2.8bn in 2017, compared to EGP 277.5m in 2016. Chairperson and Founder of Qalaa Holdings Ahmed Heikal said that this loss was driven predominantly by the full impairment of Africa Railways’ assets in Kenya. Moreover, factoring out Africa Railways’ impairment net, Qalaa recorded a loss of EGP 20.6 million in 2017, said Heikal. The company announced its revenues reached EGP 2.3bn during the second quarter (Q2) of 2017, with revenue growth of 25% y-o-y. “We are also pushing through higher operational efficiency at Dina Farms, as we seek to cement its standing as one of the country’s leading agribusinesses,” according to Qalaa Holdings chairperson and founder.

Source: Daily News Egypt October 01, 2017 17:15 UTC