Cairo – Mubasher: Misr Iran Development Bank (MIDB) has trimmed its stake in Development and Engineering Consultants Company (DAPH) to 4.61% from 5.05%, Pharos Holding for Financial Investments reported.

The Egyptian lender sold 82,100 shares with a total amount of EGP 1.7 million, according to the company’s statement to the Egyptian Exchange (EGX) on Thursday.

Over the full year 2017, DAPH’s profits hiked to record EGP 201.2 million, up from to EGP 46.8 million a year earlier.

The company’s sales reached EGP 452.7 million in 2017, compared to EGP 80.23 million in the previous year.