The Cairo-based venture capital company, Al-Ahli for Development and Investment (ADI), has posted 300,000 Egyptian pounds ($65,000) net profits in the financial year 2001, up from EP16.4 million net losses for FY00.
ADI achieved EP13.3 million capital gains in FY01, an 83 percent rise from the EP7.3 million reported the previous year. However, a 40 percent drop was reported in the company’s dividend income, totaling EP 1.3 million in 2001, while interest income fell 24 percent to reach EP5.9 million during the same period.
ADI is mandated to undertake commercial and investment banking activities including acquisitions, restructuring, underwriting, portfolio management and fund management, in addition to investment and financial advisory services. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
