Cairo – Mubasher: Arafa for Investment and Consultancies posted on Monday a year-on-year fall of 37.3% in its consolidated profits for fiscal year 2016.

Consolidated net profit amounted to $7.8 million in FY16, compared to $12.45 million for FY15, according to a bourse filing.

Meanwhile, standalone profits increased in FY16 by 2379% to $8.7 million from $350,000 for FY15.

The company’s board recommended cash dividends worth $37.2 million.