Arab Finance: Al Arafa for Investment and Consultancies’ (AIVC) consolidated net loss attributable to the holding company amounted to $82,302 in the three-month period ended on April 30th, compared to $5.55 million in the year-ago period, the financial statements sent to the Egyptian Exchange (EGX) showed on June 26^th.

Meanwhile, operating revenue fell to $53.72 million from $51.47 million.

Respecting standalone results, the company posted an 87.8% year-on-year (YoY) decrease in its net loss after tax in the three-month period to April 30th.

It incurred net losses of $1.325 million from February through April this year, versus $10.866 million.

Standalone revenues came in at $39,040 in the three months ended on April 30^th this year, down from $47,245 in the corresponding period a year earlier.

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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