Cairo – Mubasher: Dice Sport and Casual Wear (DSCW) on Thursday reported turning to losses in the first quarter of 2016.
The company posted a net loss of EGP 4.5 million in Q1-16 against a profit of EGP 4.25 million in the same period last year, according to a filing to the Egyptian Exchange (EGX).
Dice’s shareholders on Wednesday approved netting contracts with 6 companies as well as the non-distribution of dividends to shareholders for the fiscal year ended 31 December 2015.
Shareholders also approved the consolidated financial statements and losses for 2015 as well as the board of directors’ and auditor’s reports.
Dice previously posted a net consolidate profit of EGP 69.4 million in 2015.
