Atlas cuts 84% of consolidated loss in 9 months

Updated 11/29/2022 11:00:00 AM

Arab FinanceAtlas for Investment and Food Industries (AIFI) reduced its consolidated loss attributable to the parent company by 84.08% year-on-year (YoY) during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.

The company’s consolidated loss excluding minority interest dropped to EGP 485,966 in the nine months that ended on September 30th from EGP 3.052 million a year earlier.

Revenues surged to EGP 16.416 million in January-September from EGP 9.676 million the year before.

Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.