Cairo – Mubasher: United Arab Stevedoring reported a 15.37% year-on-year retreat in its losses during fiscal year 2018/2019, the company's unaudited financial results showed. 

The company suffered net losses of EGP 22.68 million in the twelve-month period ended 30 June, compared to EGP 26.8 million a year earlier, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, revenues slid to EGP 13.26 million from July 2018 from last June, down from EGP 16.5 million in the year-ago period.

In FY17/18, the company’s losses narrowed to EGP 26.81 million from EGP 30.06 million in FY16/17.