Cairo – Mubasher: Gharbia Islamic Housing Development posted a decline of 26.6% in net profits for the third quarter of 2016.
The company reported net profits of EGP 587,000 for Q3 – 2016, down from EGP 768,500 a year earlier.
As for the first nine months of 2016, the company reported net profits of EGP 1.09 million up by 43% from EGP 1.92 million a year earlier.
Moreover, the company’s board of directors decided to raise the company’s issued capital from EGP 22.5 million to EGP 50 million.
