Mubasher: Naeem Holding for Investments, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), on Thursday announced it has turned to loss during the third quarter of 2018 as compared with the same quarter last year.
The Egyptian investment bank has suffered a consolidated loss of $972,667 in the three-month period ended September, against a net profit of 563,728 million in Q3-17, according to a filing to the DFM.
Total revenues rose slightly to $2.37 million in Q1-18, from EGP 2.22 million in the prior-year period.
In the first nine months of this year, the company generated $1.46 million in profits, up from $1.029 million in the corresponding period of 2017.
Moreover, revenues surged to $12.386 million in the nine-month ended September, compared to $9.169 million in the year-ago period.
Naeem Holding previously reported a 423% year-on-year hike in consolidated profits for the first half of 2018.
Net profit stood at $2.4 million in the six-month period ended June, compared to $0.5 million in H1-17.
It is worth noting that the company logged $192,015 in profits during Q2-18, compared to $326,418 in Q2-18.
