Cairo – Mubasher: Saudi Egyptian Investment and Finance reported on Sunday a net profit of EGP 3.86 million for the fourth quarter of the fiscal year 2016, 59.2% down from EGP 9.48 million for Q4-15.

Net profit for the fiscal year 2016 declined 84.5% to EGP 16.32 million, versus EGP 105.2 million for fiscal 2015, according to a bourse filing.

Revenues for the fiscal year 2016 shrank 79.78% to EGP 21.52 million, compared to EGP 106.44 million for fiscal 2015.

The board recommended cash dividends at EGP 1 per share for the year ended on 31 December 2016.

On another note, the company asserted that its financial results were not affected by the changes in the exchange rate.