El Wadi swings to loss in H1
Updated 9/18/2022 9:50:00 AM
Arab Finance: El Wadi for International and Investment Development (ELWA) turned to losses during the first half (H1) of 2022, according to the financial indicators filed to the Egyptian Exchange (EGX) on September 18th.
The company incurred a net loss after tax of EGP 2.079 million in H1 2022, compared to a net profit of EGP 6.13 million in H1 2021.
Revenue dropped to EGP 5.615 million in the six months ended June 30th from EGP 14.124 million during the same period a year earlier.
El Wadi is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, gymnasiums, and sauna facilities.
