Cairo - Mubasher: Integrated Engineering Group’s unaudited financial indicators of fiscal year 2016 showed a 166.33% rise in profits.

The company’s achieved profits reached EGP 585,900 during the period which ended on 31 December 2016 from EGP 219,900 in the corresponding period last year, it said in a statement to the Egyptian Exchange (EGX) on Thursday.

Revenues rose to EGP 20.9 million in 2016, compared to EGP 12.7 million in 2015; a rise of 64.5%.

In a separate statement, the company noted that the liberalization of the exchange rate did not affect business results as it does not operate with foreign currency.

Integrated Engineering’s stock price last closed at EGP 0.26