Naeem Holding’s accumulated losses reach 21% of capital

Naeem Holding’s accumulated losses reach 21% of capital

Cairo - Mubasher: Naeem Holding for Investment , listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), announced that its accumulated losses amounted to $55.51 million, representing 20.99% of its capital which stands at $264 million.. The company is looking to address its accumulated losses through restructuring some subsidiaries and investments, rescheduling debts, cutting interest expenses, investing in new sectors, and expanding investments outside Egypt.. It is noteworthy to mention that in the first quarter of 2020, the dual-listed firm turned to net loss of $1.50 million , against net profits of $1.32 million in the year-ago period..