Arab Moltaqa Investment's unaudited profits fall 37% in 2016
Updated 2/22/2017 10:59:48 AM
ArabFinance: Arab Moltaqa Investment Company (AMIA) announced in a statement sent to EGX, the Board of Directors was held on February 21.
The company's BoD approved unaudited financial results for the fiscal year ending December 2016, which revealed posting consolidated net profits after taxes of LE55.301 million, versus net profits of LE87.272 million a year earlier, representing 37% decrease.
Moreover, the company posted standalone net profits after taxes of LE42.043 million, versus net profits of LE74.348 million a year earlier, representing 34% decrease.
The Floatation of Egyptian pound had a positive impact of LE5.5 million on consolidated results, and LE2.5 million on standalone results.
It is worth mentioning, the Board ratified the dividend proposal as well as calling the Ordinary General Assembly to be convened on March 19, 2017.
