Arab Valves annual profits dip to LE1.7 m on liberalization

Updated 3/5/2017 10:10:37 AM

ArabFinance: Arab Valves Co (ARVA) announced in a statement sent to EGX the audited financial results for the fiscal period starting January 1, 2016, and ending December 31, 2016.

The company posted net profits of LE1,779,110, versus net profits of LE5,687,675 in the same period a year ago.

The floatation of Egyptian pound had a negative impact of LE1,978,043 on fiscal year results.