Cairo – Mubasher: Modern Waterproofing Co. (Bitumode) turned to losses in the first half of 2015, as it logged EGP 4.9 million ($625,000) in consolidated losses , taking into consideration minority interest, versus EGP 558,500 ($71,000) net profit in the prior-year period.

Meanwhile, the company’s H1 standalone financial results showed a leap by 171.7% in net profit after tax to EGP 7.3 million, up from EGP 2.69 million in H1-14.

The company, which produces waterproofing membranes and protection boards, earlier posted EGP 2 million ($262,700) consolidated net loss for the first quarter of 2015, against EGP 1.92 million ($252,000) net profit in the same period a year earlier.