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Arab Moltaqa Q1 profits slump 79%

Arab Moltaqa Q1 profits slump 79%
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Arab Moltaqa Investments
AMIA
-0.91% 2.17 -0.02

Cairo – Mubasher: Arab Moltaqa Investments Co. (AMIC) posted a 78.8% fall in consolidated net profits, including minority interest, for the first quarter of 2015 to EGP 1.2 million ($156,000), from EGP 5.8 million ($758,000) in the same period a year earlier.

Meanwhile, Q1 standalone net profits reached EGP 16.1 million, down from EGP 21.7 million in Q1-14.

The investment firm previously posted 71% year-on-year growth in FY14 net profits to EGP 39.6 million, from EGP 23.1 million.