Cairo - Mubasher: Mena Touristic and Real Estate Investment reported a decline in profits in 2016 by 7.9% compared to the year before.

Annual profits totalled EGP 25.26 million during last year, down from EGP 27.44 million in 2015, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday.

The company’s revenues decreased to EGP 84.5 million in the previous year compared to EGP 87.05 million in 2015.

Mena said in a separate bourse filing that it has achieved foreign exchange gains of EGP 15.3 million after the Central Bank of Egypt's (CBE) decision to liberalise the exchange rate.