Cairo – Mubasher: Egyptians for Housing and Development Company consolidated profits for the fourth quarter of fiscal year 2016 declined 68.9% to EGP 3.16 million, versus EGP 10.19 million for Q4-15.
Consolidated profits in FY16 grew by 7.5% to EGP 18.96 million from EGP 17.57 million in FY15, according to a bourse filing released on Wednesday.
Revenues increased in 2016 to EGP 150.26 million from EGP 104.78 million in 2015.
Standalone profits amounted to EGP 18.96 million in 2016, 7.9% up from EGP 17.57 million.
The company’s board proposed to retain 2016’s profits to enhance the company’s financial position.
