Cairo – Mubasher: The board of Alexandria Container and Cargo Handling gave the green light to registering the real estate investment activity in the company's memorandum of association, a bourse statement revealed.
This step was taken upon request from the Holding company for Maritime &Land transport that owns a 55.7% stake in Alexandria Container.
"The major shareholder, the Holding Company, requested listing the real estate activity in the memorandum for making optimum use of the current real estate assets", according to the statement.
During July 2016, the company's unaudited net profit rose 33% year-on-year to EGP 99.9 million from EGP 75.1 million.
Over the fiscal year 2015/16, the company earned EGP 1.4 billion compared to EGP 860.6 million a year earlier.
