Egypt’s Reacap Net Losses 1.5% Less; H1

Reacap Financial Investments (REAC.CA) announced its financial results for the first half of 2012 which revealed posting net losses of EGP 18.827 million, 1.5% down from net losses of EGP 19.108 million posted during the first half of 2011.

Meanwhile, standalone business results revealed posting net losses of EGP 927.788 thousand during H1/2012, compared to net losses of EGP 1.372 million during H1/2011.

Worth mentioning, Reacap Financial Investments, formerly Recap Holding, is an Egypt-based company engaged in the provision of portfolio and fund management services. As of June 30, 2010, the Company held stake in its subsidiaries include Smart Village Real Estate Investment Company (68.35%), Al Naeem Real Estate Investment Company (99.98%), Bidaya Real Estate Investment Company (99%) and Biladi Company for Tourism Development and Hotels (99%).