Cairo – Mubasher: First Investment and Real Estate Development posted on Thursday an increase of 190% in its profits for fiscal year 2016 to EGP 86,070, compared to EGP 29,600 for FY15.
Revenues declined to EGP 3.03 million in FY16 from EGP 3.08 million for FY15, according to a bourse statement.
The company’s financial statements for FY16 were not affected by the flotation of the Egyptian pound, according to another statement.
