Cairo – Mubasher: Arab Developers Holding logged consolidated net losses of EGP 8.66 million in the first quarter (Q1) of 2022, against net profits of EGP 18.85 million in the year-ago period, according to the company's unaudited financials for the three-month period ended 31 March 2022.
The company's revenues retreated to EGP 186.56 million in the January-March period of 2022, compared to EGP 318.16 million in the same period of 2021.
As for the standalone businesses, the company's net losses declined to EGP 2.57 million in Q1-22 from EGP 5.75 million in Q1-21.
It is noteworthy to mention that in 2021, the consolidated net profits of Arab Developers hiked by 228.8% to EGP 92.86 million from EGP 28.24 million in the earlier year, including minority shareholders' rights.
