Cairo –  Egyptian Resorts Company has registered consolidated net losses after tax worth EGP 59.54 million during the first quarter (Q1) of 2022, compared to EGP 6.50 million in Q1-21.

Net total revenues surged to EGP 24.43 million in Q1-22 from EGP 11.55 million in Q1-21, according to the financial results on Monday.

During the January-March period of 2022, the loss per share settled at EGP 0.045, versus EGP 0.006 during the same period a year earlier.

Meanwhile, the standalone net losses after tax plunged to EGP 4.81 million in the first three months (3M) of 2022 from EGP 10.97 million in the year-ago period.

The non-consolidated net revenues stood at EGP 17.19 million in Q1-22, higher than EGP 5.34 million during the same period in the previous year.

The loss per share plummeted to EGP 0.005 in Q1-22 from EGP 0.01 in Q1-21.

It is worth noting that during 9M-21 Egyptian Resorts suffered consolidated net losses of EGP 4.33 million, compared to net profits worth EGP 22.18 million in 9M-20.

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