The Clap
Qalaa Holdings (CCAP) had a major turnaround in Q3-2022, raking in a cool EGP 16.7 million after losing a whopping EGP 440 million during the same period the previous year.
What
All of Qalaa’s subsidiaries saw growth, led by Egyptian Refining Company, as well as Taqa Arabia’s efficient distribution of petroleum products & Dina Farms’ increased dairy sales.
So what
The company was able to turn a profit despite recording an EGP 236 million loss due to the EGP’s devaluation.
Now what
The company warns that profits may still be affected by currency fluctuations in the coming months, especially in Q4-2022.
