Arab Finance: Al Arafa for Investment and Consultancies (AIVC) reported consolidated net losses attributable to the holding company of $3.359 million in the nine months to October 31^st of 2023, against net profits of $9.343 million over the same period of 2022, as per the company’s financial statement on December 19th.

The company logged $155.624 million in revenues in the nine-month period, down from $ 165.899 million over the same period of last year.

As for standalone results, the company recorded $5.04 million in net losses in the nine-month period ended on October 31st, up from $3.637 million over the corresponding period a year ago.

Meanwhile, it gained $109,125 in net revenues, up from $133,485 from February to October in 2022.

Arafa is an Egypt-based holding company engaged in financial and management consulting, and investment activities. The company is organized into three business segments: retail, apparel and tailoring, and textiles. It operates through managing and administrating its subsidiaries and affiliated companies.

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