Cairo – Mubasher: Lecico – Egypt turned into losses in the second quarter of the fiscal year 2016, according to consolidated financial results.
The company registered EGP 40.4 million ($4.6 million) losses in Q2 against EGP 4.2 million ($474,000) profits for the prior-year quarter.
Over the first half, the company lost EGP 81.9 million ($9.2 million), against EGP 6.5 million ($733,000) profits for the year-ago period.
On the standalone level, Q1 net losses deepened by 198% year-over-year to EGP 48.3 million ($5.4 million) from EGP 16.6 million ($1.9 million).
Meanwhile, H1 net losses reached EGP 11.7 million ($1.3 million), down 90.1% year-on-year from EGP 117.8 million ($13.3 million).
In the first quarter, consolidated losses stood at EGP 41.5 million versus EGP 2.3 million profits in the first quarter of 2015.
