United Arab Shipping Deficit Hits EGP 1.139 Mln In 2012

United Arab Shipping (UASG.CA) has posted deficit of EGP 1.139 million in April 2012, compared to a deficit of EGP 1.055 million in April 2011. The reason behind the company’s deficit was that the volume of expenses was higher than of its profits.

Worth mentioning, United Arab Shipping had posted deficit of EGP 12.462 million during the period of 07/2011 till 04/2012. Noting that it had posted during the same comparable period of 2010/2011 a deficit of EGP 7.656.

United Arab Shipping ‘s board of directors has ratified the company’s unaudited business results for the fiscal period which started in 07/2011 and ended on 31/03/2012. The business results had revealed net losses of EGP 11.342 million, compared to net losses of EGP 6.677.