Cairo – Mubasher: Nile Cotton Ginning said it narrowed its losses by 94% for the first half of the fiscal year 2015/16, according to its interim audited financial statements.

The company posted EGP 255,000 in losses H1-FY 15/16, compared with EGP 4.1 for the same period of the previous year.

The firm posted earlier, net profits of EGP 10 million for the second quarter of the fiscal year 2015/16, according to the company’s unaudited interim financial statements.