Cairo – Mubasher: Each of Amer Group Holding and Porto Group Holding approved selling 125 million treasury shares according to data released by the Egyptian Exchange.

In January 2016, both companies bought back a total of 250 million treasury shares at 38 piasters each.

By 1:10am Cairo time, Porto’s stock quote declined by 3.3% to EGP 0.29, while Amer’s registered EGP 0.35.

Porto Group Holding earned EGP 27.8 million in the first quarter of 2016, compared to EGP 37.3 million during August – December 2015, said the company in a bourse filing  according to its consolidated financial statements.

Amer Group Holding’s consolidated profits for the first quarter of 2016 rose 36% year-over-year to EGP 68 million from EGP 50 million, the company said in a bourse filing.