Cairo - Mubasher: National Cement Company reported losses of EGP 40.4 million in the first quarter of fiscal year 2016-2017 against profits of EGP 19.7 million for the same period that year before, as shown by the company’s unaudited financial statements.

The rise in losses between July and September 2016, is attributed to the increase in provisions by EGP 37.2 million, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday.