El Shams Pyramids sees 100% YoY profit surge in Q1 2024

Updated 5/15/2024 11:44:00 AM
El Shams Pyramids sees 100% YoY profit surge in Q1 2024

Arab Finance: El Shams Pyramids for Hotels and Touristic Projects’ net profits after tax grew by 100.3% year in year (YoY) in the first quarter (Q1) of 2024, according to the company’s financial indicators on May 15th.

The firm garnered $1.891 million in net profits in Q1 2024, versus $943,774 in Q1 2023.

Meanwhile, the company recorded a loss in revenues of $189,841 from January to March this year, up from $197,766 in the same period last year.

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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