Cairo – Mubasher: The unaudited financial statements showed that Marsa Alam for Tourism Development's losses decreased 67% in the first nine months of 2016.

The company's suffered EGP 6.8 million losses in the nine-month period of 2016 from EGP 20.6 million in the year-ago period.

Marsa Alam's losses reached EGP 6.6 million in the first half of 2016, against EGP 351,570 profits in the prior-year period.

The stock rose 2.56% to EGP 0.80 on Sunday.