REACAP’s losses shrink 35.7% YoY in Q1 2024

Amr Dalsh

Total operating revenues jumped to EGP 42.572 million in Q1 2024 from EGP 1.571 million in Q1 2023

Staff Writer, Arab Finance

May 14, 2024

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REACAP Financial Investments (REAC) registered a 35.7% year-on-year (YoY) drop in consolidated net losses attributable to the holding company during the first quarter (Q1) of 2024, hitting EGP 11.249 million, compared to EGP 17.486 million, according to the firm’s financial statement.

Total operating revenues jumped to EGP 42.572 million in Q1 2024 from EGP 1.571 million in Q1 2023.

Meanwhile, REACAP recorded standalone net profits after tax amounting to EGP 15.312 in the three months to March 31st, down from EGP 19.725 million in the same period last year.

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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