Cairo – Mubahser: Alexandria Medical Services reported a 13.7% rise year-on-year in profits during the fourth quarter of 2016, according to a  bourse filing.

Profits reached EGP 2.66 million in Q4-16, compared to EGP 2.34 million in Q4-15.

In 2016, profits increased by 41.9% to EGP 17.035 million in 2016 from EGP 12.001 million in 2015.

The company said in a separate statement that its board approved to raise the licensed capital from EGP 70 million to EGP 200 million.

The board gave a nod to the increase of the issued capital by EGP 5.424 million from EGP 53.24 million to EGP 58.56 million, through distributing 665,500 bonus shares on a 1-for-10 basis at a nominal value of EGP 8 per share    

Revenues rose to EGP 119.48 million in 2016, compared to EGP 107.8 million in 2015.