Qalaa Holdings [CCAP.CA] has announced its 1Q16 financial results, showing a net loss of EGP242.7mn compared to restated net losses of EGP119.1mn in 1Q15. The company reported revenues of  EGP1.73bn in 1Q16, which represent 20% Y-o-Y growth relative to 1Q15, while EBITDA came in at EGP143.2mn, which is almost flat Y-o-Y. Based on the company's earnings release, Qalaa has decided to allocate fully its capacity and resources to its core energy assets; hence, given the railway assets' need for additional capital and its weak operational performance, Qalaa Holdings' management decided to categorise its Rift Valley Railways as a discontinued operation, while continuing to provide operational and managerial support to the entity. (Company disclosure)