Pyramisa Hotels posts 90% profit slip
Updated 11/12/2020 12:02:00 PM
ArabFinance: Pyramisa Hotels and Resorts said its consolidated net profit plummeted 89% Year on Year during the first nine months of 2020, according to the company’s November 12th financial statements filed to the Egyptian Exchange.
Consolidated net profit before minority interest stood at EGP 6,749,623 in the January-September period of 2020, compared to EGP 61,214,898 achieved in the prior-year period.
Standalone net profit reached EGP 7,629,881 in the January-September period of 2020, an 86% drop from EGP 53,021,414 posted in the corresponding period a year earlier.
The company distributed cash dividends of EGP 2 per share on June 11th to the shareholders recorded on June 8th.
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.
