Cairo – Mubasher: Arab for Development and Real Estate Investment’s profits for the first quarter of fiscal year 2017 declined 26.5% to EGP 733,700, compared to EGP 998,300 for Q1-16.

Revenues for Q1-17 increased to EGP 5.8 million from EGP 3.8 million for Q1-16, a statement to the bourse said on Monday.

The company had earlier posted a net profit of EGP 2.48 million for FY16.

By 11:01 am Cairo time, the stock declined 4.11% to EGP 0.7.