Cairo – Mubasher: Arafa for Investment and Consultancies turned to net losses of $6.36 million in the company’s fiscal year ended 31 January, against net profits of $15.2 million a year earlier, including minority shareholders’ rights.

The revenues fell to $116.76 million from February 2020 until the end of last January, compared to $224.9 million in the corresponding period a year earlier, the company said in a bourse disclosure on Monday.

The standalone net profits retreated to $1.94 million in the 12-month period ended 31 January from $13.85 million.

During the nine-month period ended 31 October 2020, Arafa for Investment and Consultancies achieved net profits of $1.49 million, compared to $10.85 million in the prior-year period.