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New Ismailia losses higher 106% in Q2

New Ismailia losses higher 106% in Q2
The company logged EGP 761,550 ($85,580) losses in H1

Cairo – Mubasher: New Ismailia Urban Development said Thursday that its Q2 losses widened by 106.31% year-over-year to EGP 168,220 from EGP 81,540 ($9,160), according to a bourse filing.

Over the first half, the company logged EGP 761,550 ($85,580) losses, compared with EGP 467,280 ($52,510) for the year-ago period.

Expenses and administrative burdens reached EGP 903,720 during the first half, higher 49.23% from EGP 605,570 registered in the first half of 2015.

In the first quarter, the company registered EGP 593,330 losses, compared with EGP 385,740 for the prior-year period.