Cairo – Mubasher: Tourah Portland Cement posted lower losses in the first six months of the fiscal year 2016, according to a bourse filing.

Its losses cut by 54.4% year-over-year to EGP 31.85 million ($3.6 million) from EGP 69.84 million ($7.8 million).

In the first quarter, the company logged EGP 22.37 million losses compared to compared to EGP22 million losses ($2.4 million) for the year-ago quarter.

The company’s fiscal year starts on the first of January.