Arab Finance: El Wadi for International and Investment Development (ELWA) became profitable in the first nine months of 2023, according to financial indicators filed to the Egyptian Exchange (EGX) on January 29th.
El Wadi posted net profits after tax of EGP 2.914 million in the January-September period of 2023, compared to a net losses of EGP 1.949 million in the same period a year prior.
Meanwhile, revenues went up 94.38% to EGP 20.831 million from EGP 10.717 million.
El Wadi is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, gymnasiums, and sauna facilities.