The company’s profits for Q1 FY 2017 declined 1.38% to EGP 214 million, compared to EGP 217m for Q1 FY 2016. The developer posted a drop of 75.45% in 2016 profits, which stood at EGP 2.85m compared to EGP 11.61m in 2015. The company’s board approved a proposal to distribute cash dividends of 10 piasters per share for FY 2016. OTMT reported a consolidated net profit of EGP 897.5m for FY 2016, versus a consolidated net loss of EGP 3.6bn for FY 2015. Standalone net profit for FY 2016 reached EGP 1.08bn, against a standalone net loss of EGP 247.3m for FY 2015.

Source: Daily News Egypt May 27, 2017 14:48 UTC