Cairo - Mubasher: Rowad Tourism reported losses of EGP 465,500 in the first quarter of 2017 versus profits of EGP 249,030 in the first quarter last year, as shown by the company’s consolidated financial statements.

The company said in a statement to the Egyptian Exchange (EGX) on Wednesday that operational costs increased during the first three months of the year to EGP 138,600 from EGP 86,700 in Q1-16.

During the three-month period that ended 31 March 2017, Rowad achieved independent of EGP 394,500 compared to EGP 322,400 during the same period of the year before.