PRMH records L.E8.8m Losses in 2011

Prime Holdings and Investments (PRMH) has encountered net losses of L.E8.860 million during the fiscal year 2011, compared to net losses of L.E25.296 million during the fiscal year 2010. Therefore there is a decline in the amount of the losses reaches 65%. The activity revenues have witnessed a dip in 2011 reaches L.E18.744, compared to a dip of L.E38.246 in 2010. The activity losses excluding the expenses have increased to reach L.E11.510 million, compared to a loss reached L.E3.602 million.

The PRMH’s share, during encountering the losses in 2011, valued at L.E0.13, compared to L.E0.36 in the fiscal year of 2010.

The working capital has witnessed a dip in 2011 reaching L.E119.942 million, compared to L.E126.916 in 2010. The shareholders’ total rights have also decreased to reach L.E365.481 million in 2011, compared to L.E375.196 million in 2010.

Furthermore, the non-consolidated financial statements for the fiscal year of 2011 have unveiled the achievement of net profits valued at L.E1.117 million, compared to L.E22.167 million for the fiscal year of 2010.