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Delta for Printing profits fall 93% in FY16

Delta for Printing profits fall 93% in FY16
(Photo credit: Arabianeye - Reuters)

Cairo – Mubasher: Delta for Printing and Packaging’s profits for fiscal year 2016 declined 93% to EGP 384,400, versus EGP 5.4 million for FY15.

Sales increased in FY16 to EGP 99.5 million from EGP 92.2 million for FY15, according to a bourse statement.

The company’s board recommended not to distribute cash dividends for the year ended 31 December 2016, subject the shareholders’ approval.

Foreign exchange losses amounted to EGP 6.4 million, another statement said.