EC Ordinary General Assembly Convention

EC general assembly presided by Eng. Adel Al Mouzi, HC President, convened at 3 O'clock pm on Sunday, Sept. 26, 2010. It endorsed the following recommendations:-

·       EC Financial Position & Final Financial Statements for the FY ending on 30/6/2010 to be approved.

·       Board report on EC Business for the FY ending on 30/6/2010.

·       Quittance of EC Chairman & BMs for the FY ending on 30/6/2010.

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

·        % 100 annual allowance as of 1/7/2010 to be resolved on.

·        EC gross sales reached EGP 9 billion and 910 million.

·       EC Export value reached EGP 73 million.

·       Foreign brand manufacturing returns reached EGP 595 million.

·       Productivity/labourer reached EGP 345 million.

·       State Public Treasury revenues reached EGP 8 billion and 385 million.

·       Gross value-added reached EGP 1 billion and 452 million.

·       Realized net profits reached EGP 850 million.

·       EGP 5.5 dividend/share to be determined.