Cairo – Mubasher: Pyramisa Hotels and Resorts posted on Monday a rise of 7% in its consolidated profits for fiscal year 2016 to EGP 60.38 million, compared to EGP 56.39 million for FY15.

Standalone profits for FY16 amounted to EGP 62.85 million, versus EGP 56.39 million for FY15, according to a bourse filing.

The company’s board approved the distribution of cash dividends of EGP 1 per share (5% of the capital) for the year, subject to an approval by the ordinary general meeting (OGM) to be held on 30 March.