Cairo – Mubasher: Egypt-based Electro Cable swung from profits into losses during the third quarter of 2016 after registering EGP 18.38 million losses, compared with EGP 29.45 million profits for the year-ago period, said the company in line with the consolidated results.
In the first nine months, the company logged EGP 33.6 million losses versus EGP 22.1 million profits, the company stated in a bourse filing on Thursday.
Earlier, the standalone results for the nine-month period revealed EGP 9.3 million losses against EGP 22.1 million profits for the first nine months of 2015.
The stock quote rose 1.12% to EGP 0.90 by 11:20am CLT on Thursday after 3.6 million shares were traded at EGP 3.28 million.
