Cairo – Mubasher: El Kahera Housing’s profits for the first quarter of fiscal year 2017 declined by 28.5% year-on-year.

Net profit for Q1-17 reached EGP 30.16 million, compared to EGP 42.2 million for Q1-16, according to a bourse filing released on Thursday.

Revenues increased in the first three months of FY17 by 15.6% to EGP 413.3 million, versus EGP 357.6 million for the same period of FY16.

The company had earlier posted a net profit of EGP 288.24 million for FY16.