Cairo - Mubasher: Naeem Holding for Investments, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), on Sunday posted a sharp profit fall of around 85% year-on-year for fiscal year 2018.
The dual-listed company logged $191,700 in profits during the 12-month period ended 31 December 2018, versus a net profit of $1.27 million in 2017, according to a filing to the EGX on Sunday.
The company’s revenues grew to $15.5 million last year from EGP 10.45 million in 2017.
Naeem Holding previously reported a net profit of $1.46 million for the first nine months of 2018, versus $1.029 million in the corresponding period of 2017.
It is worth noting that the company had turned to losses during the third quarter of 2018, incurring a consolidated loss of $972,667, against $563,728 million in profits in Q3-17.
