Cairo - Mubasher: The financial statements of El Dawlia Fertilizers and Chemicals showed a 453% growth in annual profits last year.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits totalled EGP 3.3 million in 2016 compared to EGP 597,100 in the year before.

Revenues increased to EGP 230 million up from EGP 221.9 million in 2015.

El Dawlia revealed in a separate bourse filing that its financial results were not affected by the flotation of the Egyptian pound and liberalising exchange rates.