Cairo - Mubasher: The financial statements of Al Ahli Development and Investment showed a surge in profits by 1033% in 2016 due to the rise in FX gains.
The company said in a statement to the Egyptian Exchange (EGX) on Tuesday that profits totalled EGP 37.5 million last year, compared to EGP 3.4 million in 2015.
Independent profits also grew 19% to EGP 3.9 million up from EGP 2.6 million in the year before, the statement noted.
In a separate bourse filing, the company reported FX gains of EGP 39.5 million.
