Cairo – Mubasher: Naeem Holding, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), on Tuesday reported a 1,511% year-on-year hike in consolidated profits for the first quarter of 2018.
Net profit soared to $2.24 million in the three-month period ended last March, versus $139,070 in Q1-17, the company highlighted in a filing to the Egyptian Exchange (EGX).
Revenues surged to $5.9 million in Q1-18 from $3.4 million in the prior-year period.
Meanwhile, standalone profits retreated to $422,080 in Q1-18, against $690,700 in the year-ago period.
The company had achieved a net profit of $1.24 million during the full-year ended December 2017, compared to $2.59 million in 2016, including minority shareholders’ rights.
Naeem Holding’s capital amounts to $218.5 million distributed over 312.2 million shares at a par value of $0.7 per share.
