ERC reports 506.1% YoY higher consolidated loss in H1
Updated 8/31/2022 11:26:00 AM
Arab Finance: Egyptian Resorts Company (ERC) (EGTS) posted a 506.1% year-on-year (YoY) increase in consolidated loss attributable to the parent company during the first half (H1) of 2022, registering EGP 77.205 million, according to a financial statement filed to the Egyptian Exchange (EGX) on Wednesday.
Consolidated operating revenue rose to EGP 14.477 million in H1 2022 from EGP 8.23 million in H1 2021.
The company incurred a standalone net loss after tax of EGP 25.209 million in the six months ended June 30th, up from EGP 17.855 million in the same period a year earlier.
ERC is an EGX-listed company based in Egypt that operates in the tourism and hospitality sectors.
