Cairo - Mubasher: General Company for Land Reclamation, Development and Reconstruction reported a decline in losses by 46.5% in the nine-month period that ended on 31 March 2017, as shown by the company’s financial statements.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that losses totalled EGP 7.6 million between July 2016 and March 2017, compared to losses of EGP 14.2 million for the same period the year before.

Revenues increased by 97.5% to EGP 104.3 million from EGP 52.8 million during the cores spending period of the previous year.