Cairo - Mubasher: GMC Group for Industrial, Commercial and Financial Investments Company reported a growth in profits by 31% year-on-year in the first quarter of 2017, according to a bourse filing.

The company said in a statement to the Egyptian Exchange (EGX) that profits totalled EGP 116,700 in Q1-17 compared to EGP 169,800 in the same period last year.

Revenues declined to EGP 260,000 from EGP 315,000 in the first three months of 2016.