Pyramisa Hotels records EGP 26.7M consolidated profit in Q1
Updated 5/22/2022 1:14:00 PM
Arab Finance: Pyramisa Hotels and Resorts (PHTV) has turned to profitability in the first quarter (Q1) of 2022, with a consolidated net profit attributable to the parent company of EGP 26.74 million, versus a loss of EGP 2.6 million in Q1 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 22nd.
The company has generated consolidated operating revenue of EGP 99.21 million in Q1 2022, up from EGP 20.54 million in Q1 2021.
At the level of standalone financial results, the company’s standalone net profit after tax jumped to EGP 27.57 million in the three-month period ended March 31st from EGP 453,103 in the same period last year, according to the standalone financial statement.
In 2021, the company recorded a consolidated profit excluding minority interest of EGP 60.827 million, up from EGP 21.060 million in 2020.
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.
