Qalaa Holdings achieves 105% YoY growth in 2Q20

Qalaa Holdings has reported its consolidated financial results for the quarter ended 30 June 2020, with revenues of EGP7.4bn (US$470m), up 105 per cent YoY.

"Qalaa’s performance was anchored by a recovering cement market in Sudan and an optimised pricing strategy by Al Takamol, which played a key role in offsetting the impacts of Egypt's underperforming cement market," said Qalaa Holdings' Chairman and Founder, Ahmed Heikal.