Cairo – Mubasher: Arab Valve reported a decline of 65.8% in its profits for the first six months of 2016, according to a bourse statement.

It net profits reached EGP 863,700, compared to EGP 2.5 million for the year-ago period.

In the first quarter of 2016, the company’s profits fell 64.2% year-over-year to EGP 476,750 from EGP 1.33 million.

Over the fiscal year 2015, profits decreased to EGP 5.7 million from EGP 4.7 a year earlier.