Cairo – Mubasher: Zahraa Maadi Investment and Development’s profits for the first quarter of fiscal year 2017 declined 16% year-on-year.

Net profit for Q1-17 amounted to EGP 36.12 million, compared tp EGP 43.12 million for Q1-16, a statement to the bourse said on Thursday.

The stock fell on Wednesday by 2.75% to EGP 22.29.