Cairo – Mubasher: Cairo Development and Investment posted a 92.5% plunge in its consolidated profits for the first quarter of 2016, said the company in a bourse filing.
Its net profits before taxes dropped to EGP 408,000 ($46,000) in Q1-16 from EGP 5.435 million registered in the year-ago quarter.
Further, its standalone Q1 earnings before tax dipped 67.5% year-over-year to EGP 2.33 million from EGP 7.18 million
During 2015, the company posted EGP 1.9 million net profits after tax.
