Cairo - Mubasher: Arab Polvara Spinning and Weaving reported a jump in losses by 1,209% year-on-year in the first quarter of 2017, as shown by the company’s financial statements.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that losses reached EGP 64.13 million in the first three months of the year compared to EGP 4.9 million in the same period ladt year.

Revenues increased to EGP 3.6 million in Q1-17 from EGP 397,000 in Q1-16, according to the statement.