Cairo - Mubasher: Rowad Tourism reported a decline in losses by 79.8% in the third quarter of 2016, according to the company’s statement to the Egyptian Exchange (EGX) on Wednesday.

Losses reached EGP 391,060 ($22,310) in Q3-16 compared to losses of EGP 1.5 million ($85,070) in Q3-15, as shown by the company’s financial statements.

As for the first nine months of the year, losses have also decreased to EGP 2.35 million from EGP 4.43 million in the same period last year.

According to the company’s statement, revenues went down by 3.5%, to EGP 4.83 during the nine-month period that ended 30 September, compared to EGP 5 million in the same period of 2015.