Engineering Industries Co. (ICON) posted financial results for the nine-month period that ended on September 30, 2014, showing that net profit rose 14.8% to EGP 24.3 million from EGP 21.2 million reported in the same period a year earlier.
H1-14 financial results had shown EGP 3.3 million net profit, with 63% growth year-over-year from EGP 2 million.
The company’s board said earlier it was considering a proposal for increasing issued and paid-in capital by EGP 35.640 million to EGP 106.920 million from EGP 71.280 million.
The capital increase will be effected through 1-for-2 bonus share distribution that will be financed from retained earnings and FY13 profit.
The company is capitalized at EGP 71.280 million, divided into 17.8 million shares at EGP 4 par value each.