Arab Finance: Qalaa Holdings generated consolidated revenues of EGP 30.3 billion the first quarter (Q1) of 2023, up by 62% year-on-year (YoY) from EGP 18.7 billion, according to an emailed news release.

Excluding ERC, the group’s revenues reached EGP 6.9 billion in Q1 2023, rising by 38% YoY from EGP 5 billion.

Meanwhile, the group’s consolidated net profits after tax and minority interest dropped 84% YoY Q1 2023 to EGP 73 million from EGP 468.9 million.

In terms of standalone business, the company’s net losses after tax registered EGP 927.775 million in Q1 2023, up from EGP 166.130 million in Q1 2022, according to the standalone financial statement.

Qalaa Holdings is an Egypt-based company engaged in private equity investment activities.

The company manages an investment portfolio that consists of 19 opportunity-specific funds and spans 14 industrial sectors such as energy, cement manufacturing, solid waste management, real estate, mining, agricultural, glass manufacturing, transportation, and metallurgy.

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