Earnings Watch: Qalaa Holdings

EARNINGS WATCH- Qalaa Holdings reported a net loss after minority interest of EGP 383.5 mn in 1Q207, compared to a loss of EGP 281.7 7mn in 1Q2016, according to the company's earnings release. While revenues grew by 22% year-on-year for the period, “bottom-line profitability was weighed down by losses at the company’s discontinued operations, namely Africa Railways and Designopolis,” the statement reads.“Management’s ultimate goal is to continue streamlining and reshaping our investments in a manner that allows us to maximize value from the prevailing macro trends,”said Qalaa Holdings Co-Founder and Managing Director Hisham El-Khazindar. “Our efforts are already bearing fruit with core platforms delivering a steady improvement in financial and operational results, and with Qalaa on a steady course to deliver sustainable profitability at the consolidated level by 2018.”