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Taameer H1 consolidated profits down 87%

Taameer H1 consolidated profits down 87%
Net earnings after taxes shrank to EGP 2.21 million in H1-16 (Photo Credit: Arabianeye-Reuters)

Cairo – Mubasher: Development and Engineering Consultants Co (Tameer) posted a decline of 87% in the consolidated profits during the first six months of 2016 as compared to the same period in the prior year.

Net earnings after taxes shrank to EGP 2.21 million in H1-16 from EGP 17.15 million in H1-15, according to a bourse statement.

The standalone financial statements showed an 89% year-on-year drop in profits over the first half.

Tameer stock ended Tuesday’s session up 0.73% to EGP 8.27.