Citadel Capital posts 2Q loss

Citadel Capital posts 2Q loss
Published: 24 August 2010

Citadel Capital reported on Saturday a consolidated net loss in the second quarter of E£95m, compared with a net profit of E£11.9m a year earlier.

The Egypt-based private equity firm’s total operating loss in the three-month period was 12.2 million pounds, compared with a profit 98.9 million pounds a year earlier, the company said in an announcement published in al-Ahram newspaper.

Citadel controls US$8.3bn in investments spanning 14 countries and is looking to expand its investments in the Middle East and east Africa.