Cairo – Mubasher: United Arab Stevedoring’s board of directors has approved the estimated budget for fiscal year 2018/2019 with a deficit of EGP 13.44 million.

The estimated budget targets EGP 26.31 million in revenues and drafts expenses at EGP 39.75 million, the company highlighted in a statement to the Egyptian Exchange (EGX) on Wednesday.

United Arab Stevedoring’s modified financial indicators have shown a 22.8% rise in losses for the first quarter of FY17/18 to reach EGP 8.23 million, versus losses of EGP 6.7 million in the prior-year period.