Egypt: REACAP’s consolidated profits down by 89.4% in H1

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

Staff Writer, Arab Finance

August 15, 2023

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REACAP Financial Investments (REAC) registered an 89.4% drop in consolidated net profits after tax and non-controlling interest during the first half (H1) of 2023, hitting EGP 4.684 million, compared to EGP 44.202 million in the same half of 2022, according to the firm’s financial statements sent to the Egyptian Bourse on August 15th.

On the other hand, REACAP achieved standalone net profits after tax amounting to EGP 20.396 million during the first six months of this year, compared to EGP 16.200 million during the January-June 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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