Cairo – Mubasher: Arab Polvara Spinning said it brought down its losses by 82.8% for the first quarter of the fiscal year 2016/17.

The company posted losses of EGP 5 million in Q1-2016/17, compared with EGP 29.1 million for the same period of the previous year.

Earlier, the company’s unaudited financial results for FY15/16 reflected losses of EGP 93 million.