Cairo – Mubasher: Al Orouba Company for Mining and Trading on Thursday reported a decline in losses by 80.98% year-on-year in 2016.
The company’s losses amounted to EGP 130,500 in 2016 compared to EGP 686,300 in 2015, according to a statement to the Egyptian Exchange (EGX).
The flotation of the Egyptian pound had no effect on the company’s financial statements as all of the company’s transactions are done using the Egyptian pound, the company said in a separate statement.
