Golden Pyramids Plaza on Monday said its consolidated profits more than halved in the first quarter of its fiscal year.
Year-on-year, the hotel operator’s consolidated profits dropped 57.2% to $11.26 million between January and March from $26.32 million.
Revenues also retreated to $30.94 million in Q1-18 from $44.91 million the corresponding period of 2017, Golden Pyramids Plaza said in a statement to the Egyptian Exchange (EGX).
In August, Golden Pyramids Plaza reported $10.36 million in standalone profits for the first three months of the year, down 52% from $21.6 million in the same period of the previous year.
All Rights Reserved - Mubasher Info © 2005 - 2018 Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
