Misr Hotels turns to loss

Misr Hotels Company (MHOT) incurred a net loss in the first three months of the fiscal year (FY) 2020/2021

ArabFinance:Misr Hotels Company (MHOT) incurred a net loss of EGP 67,850,643 in the first three months of the fiscal year (FY) 2020/2021, according to the company’s October 27th financial statements filed to the Egyptian Exchange.

In the July-September period of 2020, the company posted a net profit of EGP 61,669,183.

Misr Hotels has 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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