Cairo - Mubasher: The financial statements of Misr Intercontinental for Granite and Marble (Egy Stone) showed losses of EGP 944,800 for 2016 against profits of EGP 121,140 in the year before.

According to the company’s statement to the Egyptian Exchange (EGX) on Sunday, annual revenues declined by 57.14% last year to EGP 2.1 million down from EGP 4.9 million in 2015.

In a separate bourse filing, the company pointed out that its financial position was not affected by the Egyptian pound's flotation.

No cash dividends have been recommended, it added, noting that the matter will be discussed during the company’s next meeting on 30 March.