Alexandria Containers and goods Company (ALCN) announced in a statement sent to EGX, the Board of Directors (BoD) was held on March 18.

The company’s BoD approved unaudited financial results for the fiscal period starting July 01, 2018 and ending February 28, 2018, which revealed posting after-tax profits of LE1,242,731,750, versus net profits of LE1,507,946,271 a year earlier, representing 18% decline.

The Company attributed the decline in profits to low of storing revenue as well as low of credit interests with LE67.474 due to it has distributed LE1.3 billion from the reserves according to general assembly resolution on May 23, 2018.

-Arab Finance