Cairo – Mubasher: Egyptian Resorts Company incurred consolidated net losses after tax valued at EGP 616.25 million in the first quarter (Q1) of 2024, an annual leap from EGP 37.09 million.
Revenues surged to EGP 334.60 million in Q1-24 from EGP 37.64 million in January-March 2023, according to the financial results.
The company reported a loss per share valued at EGP 0.50 in the first three months (3M) of 2024, up year-on-year (YoY) from EGP 0.10.
Total assets amounted to EGP 3.22 billion as of 31 March 2024, versus EGP 2.94 billion at the end of December 2023.
Standalone Results
The EGX-listed firm shifted to standalone losses worth EGP 191.30 million in Q1-24, against profits of EGP 102.74 million in Q1-23.
Non-consolidated revenues hiked to EGP 294.09 million in January-March 2024 from EGP 31.02 million a year earlier.
Loss per share hit EGP 0.18 in Q1-24, versus earnings per share valued at EGP 0.10 in Q1-23.
In 2023, Egyptian Resorts turned to consolidated net losses after tax valued at EGP 112.57 million, compared to net profits worth EGP 67.50 million in 2022.
