Cairo - Mubasher: The consolidated financial statements of Mena Touristic and Real Estate Investment showed a decline in profits in the first quarter of 2017by 29.6% year-on-year, according to a bourse filing.

The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits totalled EGP 8.08 million in Q1-17 down from EGP 11.48 million in Q1-16.

Revenues decreased to EGP 14.54 million in the three-month period that ended on 31 March 2017 compared to EGP 62.24 million in the same period last year.