Mubasher: The consolidated financial results of Naeem Holding for Investment have shown net losses of $1.68 million in the first half (H1) of 2020, compared to net losses of $236,958 in the same period of 2019.
The company's revenues declined to $2.21 million in the first six months of 2020 from $5.5 million in the corresponding period of 2019, according to the company's disclosure to the Egyptian Exchange (EGX) on Wednesday.
In the standalone financial statements, the company reported net losses of $1.24 million in H1-20, against net profits of $78,242 in the corresponding period of 2019.
It is noteworthy to mention that in the first quarter (Q1) of 2020, the company, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), turned to net losses of $1.50 million, against net profits of $1.32 million in the year-ago period.
