Aracemco agrees distributions of LE6.2 m over shareholders

Updated 3/22/2016 10:35:16 AM

Arab Finance: Arab Ceramics (Aracemco) (CERA) ordinary general assembly was convened on March 21.

OGM ratified posting net profits of LE28,274,278 after tax and distributable profits of LE30,199,828 for the fiscal year ending December 2015.

OGM agreed the shareholders’s first stake amounting to LE6,250,000, while employees stake will amount to LE2,202,428, and allocation of LE1,982,185 for board of directors.

It is worth mentioning, OGM approved delaying profits of LE19,765,215 to the coming year.

Source: EGX & Arab Finance editor