Cairo – Mubasher: The ordinary general meeting of Remco for Tourism Villages Construction (Remco) approved withholding FY15 dividends.

Thus, around EGP5.88 million ($663,900) will be retained based on the B o D proposal, said the company in a bourse filing.

The company’s FY15 consolidated net profits declined to EGP55.8 million in 2015 from EGP72.2 million a year earlier.

Meanwhile, its standalone profits reached EGP7.3 million in 2015, compared to EGP6.1 million in 2014.

Earlier, the board of directors gave a nod for buying one million treasury stocks to enhance the company’s share price through the upcoming period.