Cairo – Mubasher: El Obour Real Estate Investment Company posted on Tuesday a net profit of EGP 1.32 million for fiscal year 2016, compared to a net loss of EGP 3.63 million for FY15.
Revenues declined in 2015 to EGP 15.9 million from EGP 30.11 million for 2015, according to a bourse filing.
The company said in another statement that the flotation of the Egyptian pound has no impact on its financial statements for the year ended on 31 December 2016.
