Cairo – Mubasher: Development and Engineering Consultants Co (DAPH) announced turning to losses during the first half of 2019, the company’s consolidated financial results showed.

The company suffered losses of EGP 3.09 million during the six-month period ended 30 June, versus profits of around EGP 416,000 in the year-ago period, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, sales increased to EGP 29.6 million in H1-19, compared to EGP 24.24 million in H1-18.

The company’s financial indicators previously showed a net profit of about EGP 239,060 in the January-June period of 2019, compared to around EGP 746,030 in same period of 2018.

It is noteworthy that during the first quarter of 2019, the company’s net losses fell to EGP 7.38 million from EGP 8.33 million in Q1-18.