Cairo - Mubasher: Nile Cotton Ginning reported losses of EGP 70.06 million in the three-month period ended 31 December 2016 versus profits of EGP 4.65 million in the same period the year before.

During the first half of fiscal year 2016-2017, from July to December, losses jumped to EGP 72.58 million from EGP 254,900 in the same period in 2015.

These results are attributed to FX losses which the company said it totalled EGP 68.9 million in H1.