Cairo – Mubasher: General Company for Silos and Storage approved Saturday 2016/17 estimated budget in which a net profit of EGP54.44 million is targeted.
The budget estimates also included a total amount of investments at EGP38.75 million, the company added in a bourse filing.
The ordinary general meeting earlier amended the investment strategy for 2015/16, projecting its value at EGP26.18 million instead of EGP32.68 million.
In 2015/16, the firm is targeting a net profit of EGP15.4 million.
In the first eight months of this fiscal year, the company earned EGP36.4 million compared to EGP4.68 million for the year ago period.
