Cairo – Mubasher: Arabia Investments, Development and Financial Investment Holding on Monday announced that it used overall capital hike proceeds worth EGP 40.31 million ($2.32 million) subscribed at the end of December 2018.
The Cairo-based firm also directed EGP 6.5 million of subscription proceeds to expand in the financial leasing activity, and the remaining proceeds were injected to the auto sector, according to a filing to the Egyptian Exchange (EGX).
For the full-year 2018, the Egyptian company reported EGP 72.77 million in profits, versus a loss of EGP 180.38 million a year earlier, including minority shareholders’ rights.
Revenues increased to EGP 1.4 billion last year from EGP 1.39 billion in the prior year.
As for the standalone business, the company’s losses amounted to EGP 9.3 million in 2018, compared to EGP 443.2 million in 2017.
