Cairo – Mubasher: El Arabia for Land Reclamation reported a decline of 90.2% in net profits for the fiscal year 2015/16.
The company’s net profits amounted to EGP 547,000 in the fiscal year ended 30 June 2016, down from EGP 5.15 million for the same period of the preceding year.
Earlier, the firm said it suffered losses of EGP 6.1 million for the first nine months of FY15/16.
