Arafa Holding
First quarter results for year ending March 09
Cairo, Egypt - 12th of August 2008
Al Arafa for Investments and Consultancies "Arafa Holding" released its consolidated results for the first Quarter ending June 30th 2008.
The Consolidated Revenues recorded US$ 103.5 million in the first quarter ending June 30th 2008 compared to the achieved level of US$ 71.3 million in the first quarter ending June 30th 2007, a 45.3% increase. This increase was mainly attributed to the acquisition of SRG in the retail segment and the increase in the Apparel and Tailoring sales by 28.4%, from US$ 20.7 million to US$ 26.6 million.
The Holding Company's Gross Profit amounted to US$ 41.3 million in the first quarter ending June 30th 2008, which represents an increase of 66.6% compared to the previous quarter levels of US$ 24.8 million.
Net Profits after Tax and Minority Interest recorded US$ 8.0 million in the first quarter ending June 30th 2008, which represents an increase of 12.0% compared to the achieved level of US$ 7.2 million in the first quarter ending June 30th 2007.