Cairo - Mubasher: The consolidated financial indicators of Cairo Poultry showed a 92% year-on-year increase in profits for the first quarter of 2017, according to a bourse filing.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits totalled EGP 85.37 million in Q1-17 compared to EGP 44.42 million in the same quarter last year.

Consolidated profits shrank by 12.9% to a total of EGP 263.3 million.

Sales grew 89% in the three-month period that ended 31 March 2017 to EGP 920.8 million, compared to EGP 487.10 million in the same period of the year before.

The company’s ordinary general meeting (OGM) has recently approved the board’s recommendation to distribute 1-for-4 bonus shares worth EGP 95.8 million, representing 24% of the capital.

On the other hand, the extraordinary general meeting (EGM) approved to raise the capital by EGP 95.8 million from EGP 383.2 million to EGP 479.001 million.