Cairo – Mubasher: Assiut Islamic Trading posted on Monday a fall of 23.4% in the company’s profits for the fourth quarter of fiscal 2016 to EGP 490,000, versus EGP 640,000 for Q4-15.

Net profit for the fiscal year 2016 increased 5.1% to EGP 2.48 million from EGP 2.36 million for fiscal 2015.

The floatation of the Egyptian pound led to an increase of EGP 488,000 in the company’s profits, according to a bourse filing.