The Clap
Qalaa Holdings (CCAP) increased its revenues in 2021 by 27%, to EGP 45.8 billion, compared to EGP 33.4 billion recorded in 2020.
The deets
In spite of achieving this jump in revenues, the company incurred losses amounting to EGP 2.3 billion, 8.6% less than its 2020 losses which recorded EGP 2.5 billion.
Qalaa subsidiary Egyptian Refining Company’s revenue represented alone 62% of the total revenues generated.
The company attributed this to the increase in the refining’s profit margin in addition to the hike in commodity prices globally.
Qalaa’s Dina Farms and Taqa Arabia also achieved annual revenue growth of 17% and 14%, respectively.
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