Misr Hotels records 24% YoY profit surge in H1 FY2023/24

Updated 1/30/2024 10:24:00 AM
Misr Hotels records 24% YoY profit surge in H1 FY2023/24

Arab Finance: Misr Hotels Company (MHOT) reported a 23.91% year-on-year (YoY) increase in net profits after tax for the first half (H1) of fiscal year (FY) 2023/2024, the firm disclosed on January 30th.

The company earned EGP 430.216 million in net profits in the six-month period ended December 31st, compared to EGP 347.209 million in the corresponding period of 2022.

Moreover, the company generated revenues of EGP 577.907 million in H1 of FY 2023/2024, compared to EGP 398.832 million in the same half a FY earlier, with an annual growth of 44.9%.

Misr Hotels is an Egypt-based joint stock company engaged in tourism investment activities.

 

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