Cairo – Mubasher: Cairo Oils and Soap reported a 7.2% year-on-year increase in its losses during the first quarter of 2019.

Net losses amounted to EGP 12.76 million in the January-March period of 2019 from EGP 11.9 million in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.

The company’s net revenues retreated to EGP 21.59 million in Q1-19, compared to EGP 28.04 million in Q1-18.   

During the first nine months of 2018, the company logged net losses of EGP 53.9 million from EGP 32.9 million in the same period a year earlier.

Year-on-year, revenues fell to EGP 74.4 million in the nine-month period ended 30 September, compared to EGP 191.05 million.