Naeem Holding loss shrinks
Updated 11/12/2020 12:59:00 PM
ArabFinance: Naeem Holding for Investment reported an 89% Year on Year decline in its consolidated net loss in the first nine months of 2020, according to the company’s November 12th financial statements filed to the Egyptian Exchange.
Consolidated net loss before minority interest stood at $338,490 (EGP 5,297,706) in the January-September period of 2020, compared to $3,043,262 (EGP 47,630,093) incurred in the prior-year months.
Standalone net loss reached $2,306,512 (EGP 36,099,219) in the nine-month period of 2020, a 72% rise from $1,343,431 (EGP 21,026,038) incurred in the corresponding period a year earlier.
In the first half of 2020, Naeem(NAHO) reported a 609% Year on Year increase in its consolidated net loss to reach $1,680,495 (EGP 26,207,319) in first half of 2020, compared to $236,958 (EGP 3,695,360) incurred in the prior-year period.
Established in 1997, the public shareholding company is engaged in the provision of investment banking services within Egypt and abroad.
*At the press time, the conversion rate is $1 = EGP 15.65
