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United Arab Stevedoring’s loss rises 12% in FY19/20 initial results

United Arab Stevedoring’s loss rises 12% in FY19/20 initial results
The company’s revenues fell to EGP 11.27 million
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UASG
-0.30% 1.00 -0.00

Cairo – Mubasher: The unaudited financial results of United Arab Stevedoring showed a 12.3% year-on-year (YoY) increase in its net losses to EGP 25.5 million during fiscal year 2019/2020, compared to EGP 22.7 million.

The company’s revenues fell to EGP 11.27 million in the 12-month period ended on 30 June from EGP 13.25 million a year earlier, according to a bourse disclosure on Thursday.

It is worth mentioning that during the first 11 months of FY19/20, the company incurred net losses of EGP 27.08 million, up from EGP 20.71 million in the corresponding period in FY18/19.