Egyptian Resorts turns to loss in 9M

Cairo – Mubasher: Egyptian Resorts Co on Thursday announced it has turned to losses during the first nine months of 2018as compared with the same period last year.

Net consolidated loss amounted to EGP 25.6 million in the nine-month period ended September, against a net profit of EGP 42.16 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX).

At the level of standalone profits, the company has also turned to losses, suffering a net loss of EGP 22.57 million, versus a net profit of EGP 8.5 million in the corresponding nine-month period of 2017.

It is worth noting that Egyptian Resorts previously posted a net loss of EGP 9.3 million for the first half of 2018, compared to an EGP 47.5 million in profits in H1-17.

Mubasher Contribution Time: 15-Nov-2018 12:27 (GMT)
Mubasher Last Update Time: 15-Nov-2018 12:27 (GMT)