Cairo – Mubasher: Arab for Development and Real Estate Investment’s profits for fiscal year 2016 declined by 2.3% to EGP 2.48 million, compared to EGP 2.54 million for FY15.

Revenues increased to EGP 19.5 million in FY16 to EGP 11.6 million in FY15, according to a bourse filing released on Wednesday.

The company recommended to freeze cash dividends for the year ended on 31 December 2016, and invited shareholders for an ordinary general meeting (OGM) to discuss the recommendation on 30 April.