Cairo - Mubasher: The consolidated financial statements of Barbary Investment Group (BIG) showed a decrease in annual profits by 6.44% last year.

The company said in a statement to the Egyptian Exchange (EGX) on Thursday that it achieved profits of EGP 1.59 million in 2016 compared to EGP 1.7 million in the year before.

Independent losses surged by 3,241.5% in the previous year compared to losses of EGP 407,000 in 2015.

In a separate bourse filing, the company said that it has achieved foreign exchange gains of EGP 1.12 million after the Egyptian pound's flotation, as shown by the consolidated financial results, while foreign exchange losses in the independent statements amounted to EGP 12.9 million.

BIG’s ordinary general meeting (OGM) is scheduled for 30 April, the statement added.