Golden Coast Co. said, in a bourse statement, that its board of directors will convene a meeting on Sunday to look into endorsing the report of increasing issued capital.
The company is planning to raise its capital to EGP 50 million from EGP 20 million.
Financial results for the first nine months of FY14 had shown a decline by 5% in net profit to EGP 4.04 million ($567 thousand), compared with EGP 4.25 million ($596.7 thousand) in the same period a year earlier.
The company’s revenues rose 15.12% to EGP 7.5 million from EGP 6.5 million.
H1-14 net profit had amounted to EGP 2.7 million, with a decline by 6% from EGP 2.9 million.
Photo Credit: Arabianeye-Reuters
