Egyptian Resorts Co turns profitable in H1-20

Revenues grew

  

Cairo – Mubasher: The Egyptian Resorts Co turned to net profits of EGP 23.64 million during the first half (H1) of 2020, versus net losses of EGP 12.83 million in the year-ago period, including minority shareholders’ rights.

Revenues grew to EGP 77.16 million in the January-June period from EGP 31.23 million in the corresponding period a year earlier, the company said in a bourse disclosure on Monday.

Moreover, the standalone financial statements reported net profits of EGP 21.57 million, against net losses of EGP 44.34 million.

During the first three months of the year, the company achieved net profits of EGP 27.36 million, compared to net losses of EGP 5.52 million in the year-ago period.

Source: Mubasher

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