Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company said Tuesday that its consolidated net profits for fiscal year 2016 grew 2.5% to EGP 82.7 million from EGP 80.7 million for FY15.
Standalone net profits reached EGP 82.6 million in 2016, 2.4% up from EGP 80.7 million for FY15, according to a bourse filing.
The company’s board did not announce a proposal to distribute cash dividends for the year ended on 31 December 2016.
Foreign exchange earnings reached EGP 5.5 million, while the company’s branch in Saudi Arabia suffered foreign exchange losses worth EGP 23.2 million.
