ERC switches to profitability in 2022

Updated 4/4/2023 11:06:00 AM
ERC switches to profitability in 2022

Arab Finance: The Egyptian Resorts Company (ERC) recorded consolidated net profits attributable to the parent company of EGP 113.88 million in 2022, compared to net losses of EGP 62.078 million in 2021, according to an income statement on April 4th.

Operating revenues narrowed to EGP 20.33 million last year from EGP 44.83 million a year earlier.

Meanwhile, the company logged EGP 266.9 million in standalone net profits after tax in 2022, versus EGP 80.4 in net losses in 2021.

Standalone revenues surged to EGP 103.66 million last year from EGP 90.08 million a year earlier.

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Profits ERC

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