Cairo – Mubasher: Cairo Oils and Soap earned EGP 4.24 million during the first quarter of 2016/17, lower 83.1% year-on-year from EGP 25.14 million, according to a bourse filing.

Lower Q1 profits were driven by a 121.85% increase in costs of operations that hit EGP 42.9 million, compared with EGP 19.33 million for the year-ago period.

In the fiscal year 2015/16, the company registered EGP 83.2 million profits against EGP 52.4 million profits.