Egypt's Qalaa says H1 net loss widens 11 percent

Egyptian investment company Qalaa Holdings said on Tuesday its first-half net loss widened 11 percent year-on-year, partly due to higher costs and unfavourable foreign exchange rates.

The company said its net loss for the first six months of the year had widened to 410.6 million Egyptian pounds ($57.43 million) "primarily on the back of non-operational factors including increases in amortization, interest expenses and foreign exchange losses".