Cairo – Mubasher: Arabia Investments, Development and Financial Investment Holding reported a decline in its consolidated net profits for the second quarter and first half of 2016, according to a bourse filing on Monday.
Q1 net profits declined 12.9% year-over-year to EGP 10.25 million ($1.2 million) from EGP 11.77 million ($1.3 million).
H1 net profits fell to EGP 22.56 million ($2.5 million), compared with EGP 6.42 million ($721,000) for the year-ago period.
Earlier, the unconsolidated results for the second quarter revealed that the company earned EGP 4.2 million, down 87%.
