Cairo – Mubasher: Pyramisa Hotels and Resorts reported a 75.99% year-on-year profit hike during the first nine months of 2019 on the back of rising revenues, the company’s consolidated financial statement showed.
Net profits leapt to EGP 61.9 million in the January-September period from EGP 35.18 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.
The company’s activity revenues grew to EGP 245.34 million in the nine-month period ended 30 September from EGP 160.32 million in the same period of 2018.
As for standalone business, the company logged a net profit of EGP 53.02 million in the first nine months of the year, up from EGP 28.07 million in the year-ago period.
It is worth mentioning that during the first half of 2019, Pyramisa Hotels and Resorts’ net profit reached EGP 21.35 million, down from EGP 25.11 million in H1-18.
