Arab Today, arab today citadel capital loss widened
Last Updated : GMT 14:57:05
Arab Today, arab today
Arab Today, arab today

Citadel Capital loss widened

Arab Today, arab today

Arab Today, arab today Citadel Capital loss widened

Cairo - Arabstoday

Citadel Capital, an Egyptian private equity firm, said its first-quarter loss widened as some companies it owns stakes in were less productive amid political unrest in the North African country. \"Fallout from the Egyptian revolution had a substantial impact on consolidated performance in the first-quarter, due in large part to work stoppages of up to one month at plants run by select portfolio companies,\" the Cairo-based firm said in a statement posted on its website. The firm\'s net loss for the period that ended March 31 was 114.2 million Egyptian pounds (Dh70.4 million), compared with 33.7 million pounds a year earlier, the company said in a filing to the Egyptian bourse yesterday. Anti-government demonstrations in Egypt started on January 25, leading to President Hosni Mubarak\'s resignation less than three weeks later. The unrest caused factories and construction sites to shut down as workers demanded higher pay and better working conditions. Citadel unit Asec Holding was \"most sharply impacted by events associated with the revolution,\" the company said in the statement. Asec, along with industrial construction contractor Esaco, experienced on-site stoppages and worker protests in the first quarter, Citadel said. Asec Engineering, which manages cement plants, reported a net loss as part of Citadel\'s earnings because the \"cement industry essentially closed in late January and much of the month of February.\" Assets under management grew for Citadel in the quarter to $4.1 billion, the company said. Taqa Arabia, one of its energy units, reported a 53 per cent rise in earnings before interest, taxation, depreciation and amortisation. Citadel said in April it plans to sell shares in Taqa in an initial public offering in the fourth-quarter. Shares of Citadel advanced 1.1 per cent to 5.4 pounds in Cairo, heading for the highest close in a week. That gave the company a market value of 3.57 billion pounds. From / Gulf News

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today citadel capital loss widened Arab Today, arab today citadel capital loss widened

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday