Cairo – Mubasher: United Arab Stevedoring reported an 8% year-on-year increase in net losses for the nine months ended March 2019 due to a drop in revenue.

The company has incurred a net loss of EGP 18.9 million in the July-March period, versus EGP 17.3 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Revenue totalled EGP 10.3 million during the nine-month period of fiscal year 2018/2019, versus EGP 12.08 million in the prior-year period.

In the first six months of FY18/19, the Egypt-based firm suffered a net loss of EGP 12 million, against losses of EGP 13.6 million in the corresponding period of FY17/18.