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Naeem Holding's losses deepen in 9M

Naeem Holding's losses deepen in 9M
The company's revenues jumped to $11.38 million
Naeem Holding
NAHO
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Mubasher: The net losses represented in the shareholders' equity of Naeem Holding for Investment increased to $1.16 million during the first nine months of 2021 from $338,490 in the year-ago period, according to the company's consolidated financials for the nine-month period ended 30 September 2021.

The company's revenues jumped to $11.38 million in the January-September period of 2021, compared to $7.218 million in the corresponding period of 2020.

In the third quarter (Q3) of 2021, the company's net profits represented in the shareholders' equity decreased to $842,834, compared to $1.514 million in the year-ago period.

Meanwhile, the company has incurred accumulated losses of $56.368 million as of the third quarter (Q3) of 2021, representing 21.32% of the company's capital.

It is noteworthy to mention that during the first half (H1) of 2021, the company's net losses represented in the shareholders' equity increased to $2.01 million, versus $1.85 million in the year-ago period.