ArabFinance: Al Arafa For Investment and Consultancies (AIVC) has incurred a consolidated net loss excluding minority interest of $10.64 million during the period ended October 31st, 2021, compared to a profit of $1.178 million in the year-ago period, according to the companys financial statements filed to the Egyptian Exchange (EGX).
At the level of the standalone financial statement, the company achieved a standalone net profit of $269,567 in the period ended October 31st, 2021, compared to a profit of $977,675 in the same period last year.
Arafa is an Egypt-based holding company engaged in financial and management consulting, and investment activities. The company is organized into three business segments; retail, apparel and tailoring, and textiles. It operates through managing and administrating its subsidiaries and affiliated companies.
At the press time, the conversion rate is $1= EGP 15.74
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