Cairo – Mubasher: Egyptian for Developing Building Materials (Lift Slab Misr) posted on Wednesday a net profit of EGP 39,400 for fiscal year 2016, compared to a net loss of EGP 1.4 million for FY15.

The company will hold an ordinary general meeting (OGM) on 2 May to discuss the financial statements for the year ended on 31 December 2016, according to a bourse filing.

The financial results for the year ended on 31 December 2016 were not affected by the flotation of the Egyptian pound, another statement said.

The stock rose 1.21% to EGP 8.38 by 10:37 am Cairo time.