Cairo – Mubasher: Al Shams Housing and Urbanization posted higher profits in the second quarter of 2016, according to a bourse filing.

The company earned EGP 14.20 million ($1.60 million), up 15.09% year-over-year from EGP 12.34 million ($ 1.39 million), the unaudited financial results revealed.

Over the first six months, the company registered EGP 23.93 million ($2.69 million) profits, compared with EGP 22.20 million ($2.49 million) for the year-ago period.

During the first half, sales increased to EGP 58.43 million, compared with EGP 49.13 million in the first half of 2015.