Rowad Tourism Losses Continue in Q3 2016

Thursday, 24th November 2016

Rowad Tourism Company recorded a net loss of EGP 391,000 in the third quarter of 2016, compared to a loss of EGP 1.5 mn in the same period last year, according to the company’s statement to the EGX, Mubasher reported on Wednesday.

The company also posted a loss of EGP 2.35 mn in the first nine months of 2016, compared to EGP 4.43 mn during the same period last year.

Meanwhile, revenues declined by 3.5% during the first nine months of 2016, recording EGP 4.83 mn, compared to EGP 5 mn during the same period last year.

The company’s shares shed 0.52%, registering EGP 3.82 during Tuesday’s trading.

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