Citadel Capital Reports Q2 Net Loss

(Reuters) – Citadel Capital (CCAP.CA) reported on Saturday a consolidated net loss in the second quarter of 95.0 million Egyptian pounds ($16.7 million), compared with a net profit of 11.9 million pounds 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 $8.3 billion in investments spanning 14 countries and is looking to expand its investments in the Middle East and east Africa. ($1=5.69 Egyptian pounds) (Writing by Edmund Blair; Editing by Alex Richardson)