Cairo – Mubasher:  Alexandria Container and Cargo Handling’s net profits rose 67.2% during the period from 1 July 2015 to 30 May 2016 according to a bourse filing.

The company reported EGP 1.3 billion profits in the 11-month period, compared to EGP 775.1 million during the same period of the previous year.

The profit increaseis due to a rise in exchange differences’ gains as a result of the high foreign exchange rate, according to the company’s statement.

During the first nine months of FY2015/16, the company achieved EGP 1.03 billion net profits, 67.7% higher than the year-ago period.