Cairo – Mubasher: Egypt Free Shops turned into losses in the fourth quarter of the fiscal year 2015/16 (Q4), but annually saw a rise of 14% in its consolidated profits, according to a bourse filing.  

During the fourth quarter, the company suffered EGP 1.14 million losses, against EGP 1.21 million earnings for the year-ago quarter.

Over the fiscal year ended on 30 June 2016, Egypt Free shops earned EGP 61.24 million ($6.9 million), higher 14.3 year-on-year from EGP 53.59 million ($6 million).

Meanwhile, its standalone earnings for the same period stood at EGP 61.16 million ($6.87 million) compared to EGP 53.4 million ($5.99) a year earlier.

 The stock quote rose by 3.5% to EGP 4.19 by 11:00am Cairo time on Thursday.