|08 August, 2019

Misr Hotels’ profit rises 18% in FY18/19; dividends proposed

The company’s board of directors proposed a cash dividend distribution

Cairo – Mubasher: Misr Hotels recorded an 18% year-on-year profit rise during fiscal year 2018/2019 on higher sales.

Net profits stood at EGP 176.39 million in the twelve-month period ended 30 June, compared to EGP 149.7 million in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, sales increased to EGP 496.5 million in FY18/19 from EGP 462.05 million in FY17/18.

The company’s board of directors proposed a cash dividend distribution of EGP 4 per share with a combined value of EGP 52.8 million for FY18/19.

During the first nine months of FY18/19, Misr Hotels logged a profit of EGP 191.67 million, compared to EGP 161.73 million in the year-ago period.

Source: Mubasher

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