The board of Northern Upper Egypt Development & Agricultural Production (NUDAP) endorsed financial results for H1 that ended on June 30, 2014. The company logged EGP 587 thousand net loss in H1, narrowing 37% compared with EGP 933 thousand in the same period a year earlier.
H1 revenues amounted to EGP 4 million, compared with EGP 4.1 million in the same period a year earlier.
Q1 net loss had reached EGP 459 thousand, deepening 46% year-over-year from EGP 314 thousand net loss incurred in the same period a year earlier. FY13 net profit had fallen to EGP 2.53 million from EGP 5.93 million in FY12.