Misr Hotels announces amended financial results

Misr Hotels Company (MHOT) reported a 57% Year on Year decline in its net profit in the fiscal year of 2019/2020

  
ArabFinance:Misr Hotels Company (MHOT) reported a 57% Year on Year decline in its net profit in the fiscal year of 2019/2020, according to the company’s amended financial statements filed to the Egyptian Exchange.

Net profit after tax stood at EGP 75,268,667 in H1 2020, compared to EGP 176,392,724 achieved in H1 2019.

It targeted net profit of EGP 87.28 million in FY 2020/2021, compared to EGP 70.05 million expected profit for FY2019/2020.

Misr Hotels, a subsidiary of Holding Company for Tourism and Hotels, is an Egypt-based joint stock company engaged in tourism investment activities. The company focuses on hotel and tourism activities, including construction, purchase, and sale of hotels, resorts, casinos, restaurants, strips, and other tourist facilities.

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