Cairo - Mubasher: The financial indicators of Modern Shorouk Printing and Packaging showed a jump in annual profits last year by 455%, according to a bourse filing.

The company said in a statement to the Egyptian Exchange (EGX) on Monday, that profits totalled EGP 37.04 million in 2016 up from EGP 6.67 million in the year before.

Independent profits grew 223% in 2016 to EGP 38.16 million compared to EGP 11.8 million in 2015, the statement added.

Sales also went up to EGP 403.05 million last year compared to EGP 319.5 million in the previous year.

In a separate bourse filing, the company noted that it was not affected by the Central Bank of Egypt’s (CBE) decision to liberalise the exchange rate.