Cairo – Mubasher: National Company for Maize Products said it turned to losses in the fourth quarter of 2016 following the Central Bank of Egypt decision to float the Egyptian pound against the US dollar.

The company suffered losses of EGP 229.5 million in the fourth quarter of 2016 against profits of EGP 23 million for the same period of the previous year.

As for 2016 in full, the company logged losses of EGP 172.2 million against profits of EGP 70 million in 2015.