Pyramisa Hotels’ consolidated net profits up 90.31% YoY in Q1
Updated 5/30/2023 1:21:00 AM
Arab Finance: Pyramisa Hotels and Resorts (PHTV) has reported a 90.31% year-on-year increase in consolidated net profits after tax in the first quarter (Q1) of 2023, hitting 50.761 million, compared to EGP 26.673 million, according to the financial statement filed to the Egyptian Exchange (EGX) on May 30th.
The company has generated consolidated operating revenue of EGP 218.711 million in Q1 2023, up from EGP 99.212 million in Q1 2022.
At the level of standalone financial results, the company’s standalone net profit after tax jumped to EGP 64.430 million in the three-month period ended March 31st from EGP 27.579 million in the same period last year.
Pyramisa Hotels is engaged in tourism and hotel development and investment. The company, along with its subsidiaries, is primarily involved in the ownership, establishment, sale, rent, and management of hotels, in addition to providing travel, entertainment, therapeutic, and sports facilities.
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