El Shams Pyramids’ losses shrink 61% YoY in 2023

Updated 2/5/2024 9:28:00 AM
El Shams Pyramids’ losses shrink 61% YoY in 2023

Arab Finance: El Shams Pyramids for Hotels and Touristic Projects cut its net losses after tax by 61% year on year (YoY) to $103,575 in 2023, compared to $262,955 in 2022, the firm’s financial statement revealed on February 5th.

The company’s revenue losses fell 35% in 2023 to $355,296, compared to $544,571 a year earlier.

Founded in 1976, El Shams Pyramids for Hotels & Touristic Projects is an Egyptian public joint-stock company. The company owns, operates and manages Le Meridien Pyramids Hotel in Cairo which consists of 655 rooms, swimming pools, cafes, and restaurant and recreation facilities.

 

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