Cairo - Mubasher: Samcrete Misr reported losses of EGP 11.3 million for fiscal year 2016 against profits of EGP 19.18 million in 2015, as shown by the company’s financial statements.

Samcrete said in a statement to the Egyptian Exchange (EGX) on Tuesday that foreign exchange losses totalled EGP 111.9 million last year compared to EGP 18.75 million in the year before.

Meanwhile, revenues grew to EGP 1.3 billion in 2016, up from EGP 923.7 million in the previous year.