Cairo – Mubasher: Naeem Holding for Investment, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), succumbed to losses during 2019.
The company suffered net losses of $6.13 million last year, versus net profits of $294,425 in 2018, including minority shareholders’ rights, according to a bourse statement on Monday.
Meanwhile, the company generated $4.65 million in revenue in 2019, down from $14.13 million in the previous year.
As for standalone business, the company’s net losses swelled to $3.5 million last year from $432,010 in 2018.
It is worth mentioning that during the January-September period of 2019, Naeem Holding for Investment incurred net losses of $2.4 million, against net profits of $1.46 million in year-ago period, including minority shareholders’ rights.
