Arafa for Investment Q1 profits rise 52%

Egypt’s Arafa for Investment and Consultancies (AIVC.CA) said its consolidated profits increased 52 percent during February – April 2016, according to a bourse filing on Sunday.

The company earned $1.76 million (15.7 million Egyptian pounds) taking minority rights into consideration, compared with $1.16 million (10.4 million Egyptian pounds) for the year-ago period.

According to standalone results, the company gained $2.1 million compared to $697,000 registered during February – April 2015.

Over the financial year ended on 31 January, the company registered $12.45 million profits versus $12.4 million a year earlier.

The company’s fiscal year starts on the first of February