EC Ordinary General Assembly Convention

EC general assembly presided by Eng. Adel Al Mouzi, HC President, convened at 3 O'clock pm on Sunday, Oct. 4, 2011. It endorsed the following recommendations:-

·       EC Financial Position & Final Financial Statements for the FY ending on 30/6/2011 to be approved.

·       Board report on EC Business for the FY ending on 30/6/2011.

·       Quittance of EC Chairman & BMs for the FY ending on 30/6/2011.

·       Allocation of proposed profits for the FY – subject of convention – to be agreed upon.

·        % 100 annual allowance as of 1/7/2011 to be resolved on.

·        EC gross sales reached EGP13 billion and 676 million.

·       EC Export value reached EGP 63 million.

·       Foreign brand manufacturing returns reached EGP 678 million.

·       Productivity/labourer reached EGP 366 million.

·       State Public Treasury revenues reached EGP 14 billion and 422 million.

·       Gross value-added reached EGP 1 billion and 688 million.

·       Realized net profits reached EGP 632 million.

·       EGP 6 dividend/share to be determined.