Cairo - Mubasher: Alfanar General Contracting, Construction, Trade and Import has decided to increase the company's issued and paid up capital from EGP 8 mn to EGP 16 mn.

The company said in a statement to the EGX on Tuesday that the increase of EGP 8 mn distributed over 8 mn shares at the nominal value of EGP per share through the distribution of bonus shares funded from retained earnings shown in the 2022 lists.

She explained that the distribution of bonus shares at the rate of one bonus share for each share, so that the issued capital after the increase is EGP 16 mn, divided into 16 mn shares with a nominal value of EGP per share.

Alfanar General Contracting, Construction, Trade & Import recorded a net profit of EGP 11.14 mn in 2022, compared to a net profit of EGP 5.75 mn in 2021.

The company's revenues rose last year to EGP 84.6 mn, compared to EGP 57.71 mn in 2021.