Cairo – Mubasher: International Company for Investment and Development’s (ICID) standalone profits for the first quarter of fiscal year 2017 increased 108.3% year-on-year.

Net profits reached EGP 1.43 million in Q1-17, compared to EGP 691,080 for Q1-16, according to a bourse filing released on Wednesday.

The company said that its financial results for Q1-17 were not affected by the flotation of the Egyptian pound.