Cairo - Mubasher: International Company for Medical Industries Company’s (ICMI) said it appointed Riqueza Financial Consultancy Co. to prepare the fair value study required for the ICMI stocks.

Earlier, the Egyptian Financial Supervisory Authority (EFSA) addressed ICMI to mandate an independent financial advisor to prepare the fair value study.

ICMI profits rose in the first quarter of fiscal 2016 by 29.56% year-on-year.

Net profit came to EGP 101,600 ($11,460) in Q1-16, compared to EGP 78,430 ($8,850) in Q1-15.