Cairo – Mubasher: The consolidated financial statements of El Nasr Clothing and Textiles (KABO) revealed a year-on-year turn to losses during fiscal year 2018/2019.

The losses of the period totaled EGP 35.25 million from July 2018 to June 2019, against a profit of EGP 31.2 million in FY17/18, according to a disclosure to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, the company’s sales dropped to EGP 603.25 million in FY18/19 from EGP 617.53 million.

Meanwhile, KABO’s cost of sales rose to EGP 487.47 million during FY18/19 from EGP 482.2 million in FY17/18.

As regards the standalone financials, the firm’s profits slipped to EGP 27.21 million year-on-year during FY18/19 from EGP 28.77 million.

It is worthy to pinpoint that during the first nine months of FY18/19, KABO suffered losses worth of EGP 20.338 million, versus net profits of EGP 20.772 million in the corresponding period of FY17/18.