Arab Finance: Marseilia Almasreia Alkhalegeya for Holding Investment (MAAL) has turned to losses during the first quarter (Q1) of 2022, according to the company’s financial income statements filed to the Egyptian Exchange (EGX) on June 1st.
The company has incurred a consolidated loss attributable to the parent company of EGP 14.445 million, versus a net profit of EGP 1.009 million in Q1 2021.
Consolidated net revenues dropped to EGP 26.745 million in Q1 2022 from EGP 141.41 million in Q1 2021.
Moreover, the company has suffered a standalone net loss of EGP 14.56 million in Q1 2022, versus a net profit of EGP 829,602 in Q1 2021.
Marseilia is an Egypt-based company engaged in real estate property investment, development, and management.