ArabFinance: Pyramisa Hotels’ (PHTV) Ordinary General Meeting (OGM) approved the profit distribution attributable to shareholders of EGP 2 per share, totaling EGP 42 million.

In addition, the OGM approved the ordinary general assembly approved the financial results and proposed profit distributions for 2019.

The company posted a consolidated net profit of EGP 37,485,146 in 2019, compared to net profits of EGP 53,376,120 in the same period a year ago, taking into account the minority rights.

Moreover, it posted a standalone net profit of EGP 38,958,530, compared to net profits of EGP 51,000,331in the same period last year.

In February, the Board of Directors proposed on Feb. 13 distributing 10% of the issued and paid-up capital.