Beltone Financial Holding on Monday posted a 420% year-on-year hike in losses for the first nine months of 2018.
The company suffered losses of EGP 25.29 million in the period between January and September, versus EGP 4.8 million in losses in the year-ago period, according to a filing to the Egyptian Exchange (EGX).
Revenues grew to EGP 500.7 million in the nine-month period ended September, from EGP 471.9 million in the same period last year.
The investment bank has also posted standalone losses of EGP 23.08 million in the nine-month period, versus losses of EGP 8.2 million in the corresponding period of 2017.
It is worth noting that Beltone had turned profitable in the first quarter of 2018 with EGP 760,200 in profits, against a net loss of EGP 8 million in Q1-17.