SAE Showed Strong Decline in its Profits in 2011

Nile City Co. for Investments SAE, affiliated to Shobokshi Group of Saudi Arabia, operating under the investment law and capitalized at L.E. 625 million, fully paid up, has posted for the year 2011 about L.E. 1.3 million consolidated net profits before taxes on L.E. 193.8 million consolidated gross operating revenues among other revenues.

Figures compare with L.E. 16.7 million consolidated net profits before taxes posted for the year 2010 on L.E. 230 million consolidated gross operating revenues among other revenues. Consolidated net working capital as at 12/31/2011 has increased to L.E. 20.2 million up from L.E. 5.6 million a year ago. Consolidated long term liabilities as at the same date increased to L.E. 836.6 million up from L.E. 739 million a year ago. As regards to consolidated shareholders net equity as at the same date, it has slightly declined to L.E. 741.8 million down from L.E. 771.6 million a year ago. Chairman is Mr. Fahd Hussein Ali Shobokshi.