Egypt’s Arab Contractors reports lower full-year net profit

February 26, 2014 10:41 am

Egypt’s Arab Contractors has said its net profits fell 33.3% in the 2012/2013 fiscal year to EGP336m, compared with EGP505m a year earlier, Daily News Egypt has reported. The company’s business volume during the period was valued at EGP11.027bn, down 1.6% from the EGP11.02 recorded in the preceding fiscal year, the firm said. The value of the company’s offshore business, however, rose 4% to EGP2.85bn from EGP2.47bn in the previous fiscal year, it added.