Cairo – Mubasher: Marsa Alam for Tourism Development saw a surge in 2015 losses by 542% year-on-year to EGP21.5 million from EGP3.5 million, the company’s financial results revealed.
In the first nine months of 2015, the company logged a net loss of EGP20.6 million, against a net profit of EGP1.2 million for the year-ago period.
In September 2015, the Egyptian Financial Supervisory Authority suspended trading on the company’s stock for inspecting the company’s financial statements due to some irregularities in the disclosure of the financial statements.
