El Wadi for International and Investment posts 27% profit rise
Updated 5/10/2020 1:04:30 PM
ArabFinance: El Wadi for International and Investment Development (ELWA) posted a 27% Year on Year increase in its net profit for 2019, according to the company’s May 10th financial statements filed to the Egyptian Exchange.
Net profit reached EGP 43,690,756 in 2019, compared to EGP 34,530,036 achieved a year earlier.
In the first nine months of 2019, the company posted a net profit of EGP 45,999,930, compared to EGP 35,282,166 generated in the prior-year period.
The board of directors proposed to retain 2019 earnings for next year in order to expand the company’s business activity.
El Wadi, formerly El Wadi Company for Touristic Investment, is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, Gymnasium, Sauna, Sports venues, billiard centers, swimming pools, bowling centers, restaurants, commercial shops, conference hall.
