Cairo - Mubasher: Naeem Holding for Investments, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), on Sunday posted a 76% year-on-year decline for fiscal year 2018.

The dual-listed company logged $294,400 in profits during the 12-month period ended 31 December 2018, versus a net profit of $1.2 million in 2017, including minority shareholders’ rights, according to a filing to the EGX.

At the level of standalone business, the company lost $432,000 last year, against profits of $1.9 million in 2017.

Naeem Holding previously reported a net profit of $1.46 million for the first nine months of 2018, versus $1.029 million in the corresponding period of 2017.

It is worth noting that the company had turned to losses during the third quarter of 2018, incurring a consolidated loss of $972,667, against $563,728 million in profits in Q3-17.