Cairo – Mubasher: Rowad Misr Tourism Investment Company’s losses worsened by 96.6% year-on-year in the first quarter of fiscal 2016.

Net losses reached EGP 3.98 million ($447,000) in Q1-16, compared to EGP 2.03 million ($237,500) in Q1-15, according to a bourse statement released on Wednesday.

The company earlier posted a net profit of EGP 6.2 million in 2015.