Cairo – Mubasher: National Company for Housing for Professional Syndicates (NCH) on Monday reported an increase in losses by 1,093% during the first quarter (Q1) of 2021.

The company’s net losses reached EGP 46.9 million Q1-21, compared with EGP 3.93 million in Q1-20, according to a disclosure to the Egyptian Exchange (EGX).

Moreover, quarterly financial statements showed that the company did not achieve any revenue over the first three months of the year.

In 2020, NCH registered EGP 34.93 million in net losses, against a profit of EGP 807,220 in 2019.