Mena Touristic shrinks annual profits to LE25.2 m ending 2016

Updated 3/12/2017 9:43:23 AM

ArabFinance: Mena Touristic & Real Estate Investment (MENA) 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 consolidated net profits of LE25,260,311, versus net profits of LE27,446,805 in the same period a year ago.

Moreover, it posted standalone net profits of LE28,376,096, versus net profits of LE24,622,400 in the same period a year ago.

The floatation of Egyptian pound had a positive impact of LE15.3 million on consolidated results, in addition to LE15.3 million on standalone results.

It is worth mentioning, the company didn't propose profits distribution for the fiscal year 2016.