Dubai – Mubasher: Naeem Holding for Investments, the dual-listed company on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), has reported its consolidated interim financial results for the period ended 30 June 2019.

The company has turned to losses during the second quarter of 2019, incurring $1.56 million in losses, against profits of $192,015 in Q2-18, Naeem Holding said in a statement on Thursday.

Total revenues dropped to $1.42 million during the three-month period ended 30 June from $4.10 million in Q2-18.

In the first half of 2019, the company has suffered a loss of $236,958, against a profit of $2.43 million in H1-18.

The company’s total revenues shrank to $5.50 million in H1-19 from $10.015 million in the year-ago period.

Total assets amounted to $295.18 million as at 30 June 2019, compared to $307.04 million as at 31 December 2018.

In Q1-19, Naeem Holding posted a 41% year-on-year decline in its consolidated profits, registering $1.3 million, compared to $2.2 million.

Consolidated revenues reached $4.09 million during the three-month period ended 31 March 2019 from $5.91 million in Q1-18.