Cairo – Mubasher: Nile Pharmaceuticals and Chemical Industries saw a slide of 62.01% by the end of its fiscal year in June 2016, the board of directors estimated.
In a bourse filing, the company said that its net earnings reached EGP 6.8 million ($760,850) during 2015/16, compared with EGP 17.9 million ($2 million approximately) a year earlier.
Further, the board of directors decided to make a one-time payment of all El Nasr Glass & Crystal Company’s dues rather than installment payments, the filing indicated.
In the first eleven months of 2015/16, the company gained EGP 5.9 million compared with EGP 10.3 million a year earlier.
It is noteworthy that the company’s fiscal year extends from July to June.
