Cairo – Mubasher: South Cairo and Giza Flour Mills and Bakeries said its losses widened 10 times during the fourth quarter of the fiscal year 2015/16 (Q4), according to a bourse filing.

Net losses thus reached EGP 3.2 million ($359,360) in Q4, compared with EGP 274,000 losses ($24,840) for the year-ago quarter.

Over the fiscal year 2015/16, the company registered EGP 17.9 million ($2.011 million) compared to EGP 9.2 million profits ($1.04 million) a year earlier.

In the first nine months, the company lost EGP14.78 million ($1.65 million) against a net profit of EGP9.474 million ($1.06 million) for the year-ago period.