Atlas for Investment swings to profitability in Q1
Updated 6/15/2022 10:42:00 AM
ArabFinance: Atlas for Investment and Food Industries (AIFI) has turned into profitability in its consolidated financials during the first quarter (Q1) of 2022, according to statements filed to the Egyptian Exchange (EGX) on Wednesday.
The company reported a consolidated net profit attributable to the parent company of EGP 32,564 in Q1 2022, compared to a net loss of EGP 1.345 million in Q1 2021.
Operating revenue surged to EGP 4.347 million in the three-month period ended March 31st, from EGP 1.956 million in the same period a year earlier.
It is worth noting that Atlas posted a standalone net profit after tax of EGP 355,383 for Q1 2022, versus a net loss of EGP 1.18 million in Q1 2021.
Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.
