Cairo – Mubasher: Cairo Development and Investment posted a decline in its consolidated net profits by 91.3% for 2015.
The company’s FY15 net profits after tax moved down to EGP1.9 million ($213,000) from EGP21.7 million ($2.4 million) last year.
According to FY15 standalone financial statements, the company’s net profit declined 52.5% year-over-year to EGP6.7 million from EGP14.1 million.
In the first nine months of 2015, the company’s profits decreased to EGP686,220 from EGP17.9 million a year earlier.
