Qalaa revenue leaps 42.5% in first quarter

Qalaa Holdings — formerly Citadel Capital — on Saturday released its consolidated financial results for the period ending March 31, 2015, reporting revenues of E£1,947.5 million, up 42.5 per cent from the same period last year.

Top-line growth was driven mainly by operational improvements at ASEC Cement’s Sudan subsidiary Al Takamol, which recorded revenue growth of 157 per cent or an E£131.7 million increase over the first quarter of 2014.

Ebitda stood at E£275.8 million, an eightfold increase compared to the E£29 million in the same period last year.