Cairo – Mubasher: Arabia Investments, Development and Financial Investment Holding posted a decline in its consolidated profits for the fourth quarter of 2015 by 66% year-over-year to EGP4 million from EGP12 million.
Meanwhile, the company annually turned unprofitable after registering a net consolidated profit of EGP7 million in 2015, compared to EGP40.23 million a year earlier.
The company’s standalone profits for 2015 also fell by 42% year-on-year to EGP6.44 million from EGP11 million.
In the first nine months of 2015, the company logged losses of EGP11 million, compared to EGP28.24 million for the year-ago period.
