Cairo-Mubasher The General Company for Porcelain & Ceramics Products (Sheeni) said the ordinary general meeting endorsed the budget estimate for the fiscal year 2015/2016, which targets EGP 17.6 million in net profits before tax, the company said in statement Wednesday.

The budget estimate also targets EGP 12.8 million in investments that will be financed from self sources.

The company posted earlier a 49% drop in FY14/15 net profits to EGP 7.8 million, compared with EGP 15.2 million a year earlier.