Cairo – Mubasher: The International Company for Investment and Development (ICID) reported on Tuesday a rise of 972% in standalone profits for fiscal year 2016 to EGP 9.21 million, compared to EGP 859,000 for FY15.

The ICID’s unaudited financial statements earlier showed a net profit of EGP 2.42 million for FY16.

The company attributed the rise in the audited profits to the sale of 72,400 shares from its stake in Ibn Sina for Treatment and Medical Services for EGP 9.7 million, according to a bourse statement.