Cairo - Mubasher: The board of directors of Lecico - Egypt has recommended freezing the dividends distribution for the fiscal year 2015.
The board’s proposal will be submit to the company's upcoming annual general meeting, said a bourse statement.
The decision came after the recent declines in the company's revenues in October on the slowdown of tile production, which led to losses of nearly EGP 10.5 million.
Lecico turned to losses in the first nine months of 2015 with EGP 2.5 million, against profits of EGP 91.7 million for the similar period of the previous year.
