By Ahmed Allam
Cairo – Mubasher: Arab Pharmaceuticals announced resuming the work cycle today after a staff strike occurred on 28 September at the premises, according to a statement on Tuesday.
The employees went on strike to raise their dividend payout for the fiscal year 2015/16, namely after the company posted a surge in its annual profit.
“Negotiations with the labor union are going on the right track. The activity will be resumed starting from 4 October “, said Mohsen Nadi, Investment Relation Manager.
The management will further study the staff calls for raising dividend payout for 2015/16, which is unchanged from the previous year’s portion, Nadi added.
The company’s annual profits jumped 147% year-over-year to EGP 14.45 million from EGP 5.85 million,
By 1:30pm Cairo time, the stock quote was placed at EGP 7.7 with a 1.5% rise.
