Cairo – Egyptian Resorts Company incurred consolidated net losses after tax worth EGP 7.63 million in the first nine months (9M) of 2023, an annual plunge from EGP 84.85 million.

Revenues enlarged year-on-year (YoY) to EGP 173.41 million in 9M-23 from EGP 89.25 million in 9M-22, according to the consolidated financial statements.

Earnings per share (EPS) hit EGP 0.02 in January-September 2023, against a loss per share of EGP 0.06 a year earlier.

Total assets increased to EGP 3.10 billion in 9M-23 from EGP 2.39 billion as of 31 December 2022.

Standalone Business

The EGX-listed firm generated EGP 114.78 million in standalone net profits after tax during 9M-23, compared to EGP 528,380 in the year-ago period.

Non-consolidated revenues increased to EGP 143.10 million as of 30 September 2023 from EGP 76.91 million a year earlier.

Financials for Q3-23

During the third quarter (Q3) of 2023, the consolidated net profits of Egyptian Resorts amounted to EGP 76.60 million, an annual surge from EGP 8.41 million.

The total revenues hiked to EGP 168.23 million in Q3-23 from EGP 33.35 million a year earlier, while the EPS increased to EGP 0.07 from EGP 0.01.

Non-consolidated net profits after tax widened to EGP 64.26 million in July-September 2023 from EGP 25.73 million in Q3-22, while the revenues jumped to EGP 146.48 million from EGP 23.83 million.

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