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Tameer turns profitable in Q4

Tameer turns profitable in Q4
(Photo credit: Arabianeye - Reuters)

Cairo – Mubasher: Development and Engineering Consultants’ (Tameer) adjusted financial statements showed a net profit of EGP 39.48 million for the fourth quarter of the fiscal year 2016, compared to a net loss of EGP 4.89 million.

Adjusted net profit for FY16 amounted to EGP 46.83 million, 232.5% up from EGP 14.08 million for FY15, according to a bourse filing.

Sales increase in FY16 to EGP 80.23 million from EGP 18.8 million in FY15.

Foreign exchange earnings reached EGP 11.69 million in FY16, said another statement.

DAPH’s unaudited financials earlier showed a net profit of EGP 46.59 million for FY16.