Cairo – Mubasher: International Company for Investment and Development’s profits rose in the first quarter of fiscal 2016 by 93% year-on-year.

Consolidated net profit reached EGP 8.26 million ($928,000) in Q1-16, versus EGP 2.1 million ($480,400) in Q1-15, according to a bourse filing released on Monday.

Standalone profits decreased to EGP 691,000 by the end of March 2016, compared to EGP 2 million in the same period of 2015.

The company invited shareholders to attend the extraordinary general meeting (EGM) on 9 June to discuss amendments to the statute to add two independent members in the board of directors.