Golden Pyramids Plaza (GPPL) reported a 77.05% year-on-year (YoY) decline in standalone net profit after tax for the first quarter (Q1) of 2023, according to the standalone financial statement filed to the Egyptian Exchange (EGX) on October 2nd.

The company recorded a net profit after tax of $6.194 million in Q1 2023, compared to $26.994 million in Q1 2022.

Operating revenues dropped to $22.831 million in the three-month period ended March 31st from $42.255 million in the year-ago period.

Golden Pyramids announced before that it saw a 79.6% year-on-year (YoY) drop in its consolidated net profits after tax and non-controlling interests in Q1 of 2023.

Established in 1991 and listed on EGX in 1997, Golden Pyramids Plaza operates within the consumer services sector focusing on hotels, resorts, and cruise lines.


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