Cairo – Mubasher: International Company for Investment and Development said its net profits fell 67.4% in the first quarter of 2016, according to its unaudited standalone financial statements.

The company registered a net profit of EGP 687,900 in Q1-16, compared with EGP 2.1 million in Q1-15.

The ordinary general meeting will be held on 9 June 2016 for adjusting the articles of association to add two independent members to the board as per EGX regulations. 

In 2015, its net earnings jumped 296% year-over-year to EGP 1.88 million from EGP 475,800.