AIVC’s consolidated profit hit $4.9M in 3 months

Updated 1/16/2023 2:26:00 PM
AIVC’s consolidated profit hit $4.9M in 3 months

Arab FinanceAl Arafa for Investment and Consultancies (AIVC) reported a consolidated net profit after tax attributable to the holding company of $4.907 million during the August-October period of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on January 16th.

The company also recorded a consolidated net profit after excluding minority interest of $9.343 million for the period ended October 31st

On the other hand, AIVC recorded standalone net loss after tax of $3.637 million at the end of October 2022, compared to a profit of $269,567 in the same period last year.

Arafa is an Egyptian holding company specializes in financial and management consulting, and investment activities. The company consists of three business segments; retail, apparel and tailoring, and textiles. It operates through managing and administrating its subsidiaries and affiliated companies.

Related News