Cairo – Mubasher: Naeem Holding for Investment turned to net losses of $1.50 million in the first quarter of 2020, against net profits of $1.32 million in the year-ago period, the consolidated financial statements showed.

The company, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), generated $830,259 in revenue in the three-month period ended on 31 March, down from $4.093 million in the year-ago period, according to a bourse disclosure on Thursday.

It is noteworthy to mention that in 2019, the dual-listed firm suffered net losses of $6.13 million, versus net profits of $294,425 in 2018, including minority shareholders’ rights.