Arab Finance: Cairo Housing and Development Company (ELKA) has widened its consolidated loss attributable to the parent company by 34.65% year-on-year (YoY) during the first quarter (Q1) of 2023, according to the financial statements filed to the Egyptian Exchange (EGX) on May 31^st.

The company’s consolidated loss increased to EGP 7.256 million in Q1 2023 from EGP 5.389 million in Q1 2022.

Consolidated operating revenue dropped to EGP 76.797 million in the three-month period ended March 31st from EGP 523.786 million in the year-ago period.

Moreover, the company reported a standalone net loss after tax of EGP 3.659 million in the January-March period of 2023, up from EGP 2.259 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.

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