Cairo – Mubasher: Lecico – Egypt turned into losses in the first quarter of 2016 according to the consolidated financial statements.
In a bourse filing, the company indicated that it logged EGP 41.5 million losses against EGP 2.3 million profits in the year-ago quarter.
Meanwhile, the company’s standalone results revealed that its Q1 net profits declined by 55% year-over-year to EGP 59.97 million from EGP 134 million.
During 2015, the company registered a net loss of EGP 65.85 million against a net profit of EGP 94 million a year earlier.
