Cairo – Golden Pyramids Plaza reported a 34.92% year-on-year (YoY) drop in its net profits to $12.69 million during the first quarter (Q1) of 2020 from $19.5 million, the company’s standalone financial results showed.

The company’s revenues increased to $35.44 million in the January-March period, compared to $34.49 million in the year-ago period, according to a bourse disclosure on Sunday.

Losses in securities investment widened to $7.466 million in Q1-20 from $3.79 million in Q1-19.

It is worth mentioning that during 2019, Golden Pyramids Plaza achieved net profits of $20.66 million, up from $8.34 million in 2018.

Source: Mubasher

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