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Misr Hotels reports 52% profit decrease

Misr Hotels reports 52% profit decrease

ArabFinance:  Misr Hotels Company (MHOT) reported a 52% Year on Year decline in its net profit in the fiscal year of 2019/2020, according to the company’s August 27th statement filed to the Egyptian Exchange.

Net profit stood at EGP 85,450,149 in FY 2019/2020, compared to EGP 176,392,724 achieved in 2018/2019.

The company will distribute dividends of EGP 15,840,000, the equivalent of EGP 0.40 per share. 

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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