Cairo – Mubasher: Cairo Oils and Soap posted on Sunday a net loss of EGP 5.6 million for the first nine months of fiscal year 2016/2017, against a net profit of EGP 92.7 million for the same period of FY15/16.
Revenues for the first nine months of FY16/17 reached EGP 135.1 million, 80% up from EGP 75.06 million for the same period of FY15/16, according to a bourse filing.
Expenses increased in the first nine months of FY16/17 by 68.2% to EGP 122.2 million from EGP 72.66 million in the same period last year. Foreign exchange losses rose to EGP 1.52 million from EGP 447,200.
On another note, the company’s board has agreed to hold its extraordinary general meeting (EGM) to discuss amending Article 54 of the statute to shift the fiscal calendar from the current June-July to January-December.
