Cairo - Mubasher: The financial statements of Marseilia Almasreia Alkhalegeya Real Estate Investment showed a decline in profits in the first quarter of 2017 by 86% year-on-year, due to a drop in sales.
The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits totalled EGP 3.73 million in Q1-17 compared to EGP 26.03 million in Q1-16.
During the first quarter of the year, sales decreased by 49% to EGP 84.5 million down from EGP 166.87 million for the same period last year.
