Cairo – Mubasher: Zahraa Maadi Investment and Development’s unaudited financial statements showed a 38.8% fall in the company’s net profit for the fourth quarter of fiscal 2016 to EGP 37.33 million, versus EGP 60.99 million for Q4-15.
Profits for fiscal 2016, however, rose 10.05% to EGP 177.8 million from EGP 161.58 million for fiscal 2015, according to a bourse filing released on Tuesday.
The board of directors recommended cash dividends of EGP 2 per share and 1-for-5 bonus shares for fiscal 2016.
The stock declined at Monday’s close by 0.61% to EGP 22.86.
