Cairo – Mubasher: Cairo Development and Investment said Wednesday that its consolidated profits for the fourth quarter of fiscal year 2016 reached EGP 476,670, dropping 60% from EGP 1.21 million for Q4-15.
Consolidated profits for fiscal year 2016 fell 65.6% to EGP 652,700 from EGP 1.9 million for FY15, according to a bourse filing.
Standalone profits for FY16 amounted to EGP 3.48 million, 48% down from EGP 6.7 million for FY15.
Revenues shrank in 2016 to EGP 1.7 million from EGP 2.04 million for 2015.
The company’s board will discuss the cash dividends for the year which ended on 31 December 2016 before holding its ordinary general meeting (OGM).
The company’s stock fell on Tuesday by 1.63% to EGP 3.11.
