Cairo – Mubasher: Mena Touristic and Real Estate Investment Company’s consolidated profits declined in the first quarter of fiscal 2016 by 68.6% year-on-year.
Net profit reached EGP 11.48 million ($1.29 million) in Q1-16, versus EGP 36.59 million ($4.13 million) in Q1-15, according to the company’s financial statements released on Sunday.
Mena’s standalone profits also decreased to EGP 11.15 million ($1.25 million) by the end of March 2016, against EGP 36.48 million ($4.11 million) in the same period of 2015.
