Cairo – Mubasher: Gharbia Islamic Housing Development Company said Wednesday that its profits for fiscal year 2016 declined 45.6% to EGP 1.66 million from EGP 3.05 million for FY15.

The company’s board proposed to distribute cash dividends of 20 piasters per share for the year, totalling 1.1 million.

The stock was last traded at EGP 4.48.