Cairo - Mubasher: International Business Corporation for Trading and Agencies (IBCT) reported a decline in profits during 2016 by 53.12% year-on-year, according to t a bourse filing.
The company said in a statement to the Egyptian Exchange (EGX) on Sunday that profits totalled EGP 1.5 million in 2016, compared to EGP 3.2 million in the year before.
Revenues also decreased to EGP 38.45 million last year down from EGP 47.8 million in 2015.
IBCT also said in a separate bourse filing that its financial statements was not affected by exchange rates.
