Cairo – Mubasher: International Company for Investment and Development said it turned to losses in the second quarter of 2016.

The company suffered losses of EGP 1.6 million ($181,000) in the second quarter of 2016, against profits of EGP 423,000 ($47,800) for the same period of the previous year.

As for the first half of 2016, the company said it saw net profits of EGP 6.6 million ($745,000) for the first half of 2016 up from EGP 4.7 million ($531,000) a year earlier.