Cairo - Mubasher: Universal for Paper and Packaging Materials Company (Unipack) posted a 23.83% year-on-year profit increase in the second quarter of 2016, to EGP 2.49 million ($279,970) compared to EGP 2.01 million ($226,090) in the same period last year.

Profits also grew 42.19% in the first half of the year, reaching EGP 3.18 million ($357,580), up from EGP 2.24 million ($251,480) in H1-15, according to the company’s statement to the Egyptian Stock Exchange on Thursday.

The company’s sales went up 8.27% in Q2-16 totalling EGP 58.6 million, the statement added.