Naeem Holding cuts loss
Updated 3/1/2021 12:02:00 PM
ArabFinance: Naeem Holding for Investment’s (NAHO) consolidated net loss reached $349,600 (EGP 5.49 million) in 2020, down 94.3% from $6.13 million (EGP 96.36 million) in 2019, according to the company’s filing to the Egyptian Exchange on March 1st.
As regards standalone business, the company achieved a net profit of $2.8 million (EGP 44.01 million) in 2020, compared to $3.5 million (EGP 55.02 million) the year before.
In February, the company’s unaudited statements reported a net loss of $1.38 million (EGP 21.55 million) in 2020.
The listed company reported an 89% Year on Year decline in its consolidated net loss in the first nine months of 2020, recording $338,490 (EGP 5.29 million), compared to $3.04 million (EGP 47.63 million) 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 15.72.
