Cairo – Mubasher: The consolidated results of MB for Engineering and Contracting showed that the company turned to losses in the third quarter of 2016.
The company's net losses reached EGP 346,800 during the period between July and September, against net profits of EGP 1.44 million in the same period of the previous year.
The consolidated net profits decreased 7.4% to EGP 4.67 million in the first nine months of 2016 from EGP 5.04 million in the year-ago period.
The standalone profits reached EGP 4.1 million in the nine-month period of the year, down from EGP 4.63 million in the prior-year period.
The stock shed 0.25% to EGP 3.99 by 11:48am on Wednesday's trading.
