The Clap
Citadel Capital (CCAP) recorded EGP 584.1 million in losses in Q1 of 2022.
The Deets
Citadel Capital recorded a whopping 134% increase in revenues compared to last year, reaching EGP 18.7 billion.
Regardless of the revenues, they had still witnessed a net loss of EGP 584 million for Q1 due to the further devaluation of the EGP and after deducting minority rights.
What about the jump in revenues?
This huge increase in revenues gives an indicator that the companies under Citadel Capital are ready for expansion, as they had a positive reaction to the strategy adopted by Citadel Capital.
Citadel Capital records losses for Q1 🏰
