Marseilia Almasreia cuts consolidated loss by 48% YoY in 9 months

Updated 11/24/2022 11:03:00 AM

Arab FinanceMarseilia Almasreia Alkhalegeya for Holding Investment (MAAL) recorded a 47.73% year-on-year (YoY) decline in consolidated loss attributable to the parent company during the first nine months of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on November 24th.

The company’s consolidated loss excluding minority interest dropped to EGP 13.37 million in the nine months to September 30th from EGP 25.58 million in the year-ago period.

Operating revenue surged to EGP 259.516 million in January-September from EGP 202.648 million in the same period a year earlier.

Marseilia is an Egypt-based company engaged in real estate property investment, development, and management.