Cairo - Mubasher: The ordinary general meeting (OGM) of Cairo Development and Investment Company approved retaining profits worth EGP 10.55 million to the next year.
The OGM also approved the board and auditor’s reports for the last fiscal year, the company added in a statement to the Egyptian Exchange (EGX) on Thursday.
The board recommended to not distribute dividends to shareholders and retaining them to the next year.
The company’s profits retreated 65.6% to EGP 652,700 during 2016, compared to EGP 1.9 million in 2015.
Standalone profits slid 48% during 2016 at EGP 3.48 million, against EGP 6.7 million in the year before.
The company’s stock settled at EGP 3.25 in Thursday’s trading session at 11:26am Cairo time.
