Egypt: REACAP’s consolidated losses widen by 86.6% in Q1

Established in 1997, the company, in which Naeem Holding owns a stake of 47.61%, provides asset management services

Staff Writer, Arab Finance

May 15, 2023

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REACAP Financial Investments (REAC) registered an 86.67% increase in consolidated net losses after tax and non-controlling interest during the first quarter (Q1) of 2023, incurring EGP 17.485 million, compared to EGP 9.367 million in the same quarter of 2022, according to the firm’s financial statements sent to the Egyptian Bourse on May 15th.

On the other hand, REACAP achieved standalone net profits after tax amounting to EGP 19.724 million during the first three months of this year, compared to EGP 18.131 million during the January-March period of 2022.

Established in 1997, the company, in which Naeem Holding owns a stake of 47.61%, provides asset management services such as fund, wealth, and portfolio management, as well as direct investments in various sectors.

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