Cairo – Mubasher: Heliopolis Company for Housing and Development achieved a surge of 135.5% in profits to EGP 120.1 million during the fourth quarter ended 30 June, 2016 as compared to EGP 51 million in the same quarter of the previous year.
The board of directors recommended a cash dividend of EGP 3 per share, with a total value of EGP 334.57 million, subject to the approval of the ordinary general meeting, according to a bourse statement issued Thursday.
During the fiscal year 2015/2016, profits soared to EGP 400.6 million from EGP 204.7 million in FY 2014/2015.
Heliopolis Housing’s stock inched up 0.4% to reach EGP 50.8 by 1:20pm Cairo time on Thursday, with turnover of EGP 1.7 million after about 34,600 shares were exchanged.
