Jul 22 2012 |
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Egypt's Citadel says Q1 net loss grew 43 pct
CAIRO, July 22 (Reuters) - Egyptian private equity firm Citadel Capital said on Sunday its net loss in the first quarter had widened 43 percent from a year earlier to $26.4 million.
It said assets under management had risen 4.9 percent to $4.4 billion in the 12 months to end-March 2012.
"Setting aside the net effect of one-time fees related to Citadel Capital's refinanced debt and the OPIC-backed facility, the firm would have recorded a 9 percent narrowing of its consolidated loss," the company said in an emailed statement.
Citadel's share was trading 0.3 percent higher at 11:00 a.m. (0900 GMT)
((patrick.werr@thomsonreuters.com)(+20 2 2578 3290 Reuters Messaging: patrick.werr.thomsonreuters.com@thomsonreuters.net))
Keywords: CITADEL EGYPT/RESULTS
© Copyright Zawya. All Rights Reserved.
Egypt's Citadel says Q1 net loss grew 43 pct
CAIRO, July 22 (Reuters) - Egyptian private equity firm Citadel Capital said on Sunday its net loss in the first quarter had widened 43 percent from a year earlier to $26.4 million.
It said assets under management had risen 4.9 percent to $4.4 billion in the 12 months to end-March 2012.
"Setting aside the net effect of one-time fees related to Citadel Capital's refinanced debt and the OPIC-backed facility, the firm would have recorded a 9 percent narrowing of its consolidated loss," the company said in an emailed statement.
The company said that during the quarter it had drawn down $81.3 million from a $150 million facility it had received from United States' Overseas Investment Corporation (OPIC).
Citadel's share was trading 0.3 percent higher at 11:00 a.m. (0900 GMT)
(Reporting by Patrick Werr; Editing by Mike Nesbit)
((patrick.werr@thomsonreuters.com)(+20 2 2578 3290 Reuters Messaging: patrick.werr.thomsonreuters.com@thomsonreuters.net))
Keywords: CITADEL EGYPT/RESULTS
© Copyright Zawya. All Rights Reserved.



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