Cairo – Mubasher: The Egyptian Media Production City Co (EMPC) registered net profits of EGP 23.38 million during the first nine months of 2020, the unaudited consolidated financial results showed.
Revenues amounted to EGP 319.82 million during the January-September period, according to a bourse disclosure on Sunday.
No results were reported for the corresponding period as the company has not reported its consolidated results before.
As for the standalone business, EMPC logged net profits of EGP 54.67 million in the nine-month period ended 30 September, down from EGP 62.48 million in the year-ago period, and posted revenues of EGP 335.73 million, compared to EGP 310.66 million.
In August, the board approved the acquisition of several stakes in the Arabian Hospitality Company, raising the company’s holding to 97.55%.
During the first half (H1) of 2020, the company recorded net profits of EGP 51.67 million, up from EGP 48.13 million in H1-19.
