Cairo – Mubasher: Rubex International for Plastic and Acrylic Manufacturing said Wednesday that its losses declined in fiscal year 2016 by 76.9% to EGP 2.83 million from EGP 12.26 million for the fiscal year 2015.

The company suffered losses worth EGP 1.6 million due to the flotation of the Egyptian pound, according to a bourse filing.

The company will hold its ordinary general meeting (OGM) on 28 March to discuss the financial statements for the year which ended on 31 December 2016.