Cairo-Mubasher: Shareholders of Egyptians for Investment & Urban Development approved the financial results for the fiscal year 2014.

In an ordinary general meeting on 26 March, shareholders also gave a nod to retaining profits in order to fund future expansions and projects.

The company posted a 27.8% fall in FY14 net profits to EGP 1.3 million, compared with EGP 1.8 million in FY13.