Cairo – Mubasher: El Nasr Clothing and Textiles’ (KABO) consolidated losses shrank in the first quarter of fiscal 2016 by 43.7% year-on-year.

Net losses reached EGP 6.3 million ($711,360) in Q1-16, versus EGP 11.2 ($1.2 million) in Q1-15, according to a bourse filing released on Tuesday.

KABO earlier posted standalone net profit of EGP 5.9 million in the nine-month period ended on 31 March 2016.