Cairo – Mubasher: Citadel Capital posted on Monday an increase of 355% in its consolidated net loss for fiscal year 2016 to EGP 5.58 billion, compared to EGP 1.22 billion for FY15.

Expenses decreased in FY16 to EGP 797 million from EGP 1.76 billion in FY15, according to a bourse filing.

Consolidated foreign exchange losses reached EGP 2.25 billion in FY16. Consolidated revenues increased in FY16 to EGP 7.8 billion from EGP 5.9 billion for FY16.

Standalone losses for FY16 deepened 704% year-on-year to EGP 174.014 million.