Cairo – Mubasher: Arab for Development and Real Estate Investment Company posted an increase of 20.6% in net profits for the second quarter of 2016.

The company’s profits stood at EGP 440,000 in Q2-2016, up from EGP 364,720 for the same period a year earlier.

As for the first half of 2016, the company’s profits declined by 23.41% to EGP 1.44 million compared with EGP 1.88 million a year earlier.

The listed real estate firm reported net profits of EGP 998,390 in the first quarter of 2016.