Atlas for Investment’s consolidated loss shrinks 75% YoY in 2023

Updated 3/5/2024 12:29:00 PM
Atlas for Investment’s consolidated loss shrinks 75% YoY in 2023

Arab Finance: Atlas for Investment and Food Industries’ (AIFI) consolidated net losses after tax and non-controlling interest dropped by 75.29% year on year (YoY) in 2023 to EGP 276,608, compared to EGP 1.12 million, as per the financial indicators.

Revenues surged 73.19% YoY to EGP 36.152 million last year from EGP 20.874 million the year before.

In terms of standalone business, net losses after tax went down 76.06% YoY in 2023 to EGP 1.337 million from EGP 5.584 million

Meanwhile, standalone revenues slipped 4.92% YoY to EGP 3.841 million, down from EGP 4.04 million in 2022.

Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.

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