Cairo – Mubasher: GMC Group for Industrial, Commercial and Financial Investments turned into losses during the second quarter of 2016, according to a bourse filing.

The company logged EGP 6,350 losses in Q2 against EGP 427,890 profits for the year-ago quarter.

Over the first six month, the company registered EGP 163,550 profits, compared with EGP 1.41 million for the first half of 2015.

Revenues during the first half declined 79.55% year-over-year to EGP 585,000 from EGP 2.86 million.

In the first quarter, the company earned EGP 169,890, compared with EGP 974,140 for the first quarter of 2015.