Cairo – Mubasher: Atlas for Land Reclamation and Agricultural Processing Company’s consolidated financial statements for fiscal year 2016 showed a net loss of EGP 2.1 million, compared to a consolidated net profit of EGP 3.1 million for FY15.

Standalone net loss reached EGP 1.9 million in FY16, against a standalone net profit worth EGP 507,300 for FY15, according to a bourse filing.

Consolidated revenues decreased in FY16 to EGP 3.8 million from EGP 5.7 million for FY15.

The company will hold an ordinary general meeting (OGM) on 29 April to discuss the financial statements for the year ended on 31 December 2016.

Foreign exchange earnings reached EGP 37,500 in FY16, said another filing.