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Arab Engineering's annual profits slide 41%

Arab Engineering's annual profits slide 41%
Photo Credit: Arabianeye-Reuters

Arab Engineering Industries net profits for 2014 declined by around 41.3%, the company said in its consolidated financial indicators for the fiscal year ended on 31 December, 2014.  

The company posted EGP 4.7 million ($616,000) net profits for 2014 compared with EGP 8 million ($1.04 million) for 2013.

The company's net profits stood at EGP 4.6 million for the first nine months of 2014 compared with EGP 7.3 million for the same period of previous year ,with decline of 37%.