Naeem To Run Takeover Deals Worth $150 Mln This Year: CEO

Youssef Medhat El Far, Naeem Holding Managing Director, said the company will be running some acquisition deals in the field of industry.

“These deals will be for Egyptian and Saudi investors and worth $150 million.” El Far added

He also mentioned that Naeem Holding (NAHO.CA) enjoys intensive activities in the field of real estate investments in the Egyptian market, its administrative buildings project in the Smart Village besides touristic lands in Marsa Alam in particular.

Worth mentioning, the consolidated financial statements for Naeem Holding Investments Company during Q1/2012 have revealed that the company posted net profits of $2.807 million, compared to net losses of $2.779 million posted a year earlier.

Additionally, the unconsolidated financial statements for the company revealved net profits of $1.522 million, compared to net profits of $5.471 million a year earlier.