Cairo – Mubasher: Egyptian Resorts Co on Monday reported it has turned to profits in the full-year 2017 due to a growth in revenues.
Consolidated profits stood at EGP 69.4 million last year, against losses of RGP 18.8 million in 2016, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).
Revenues grew to EGP 281.06 million in the year ended December 2017, versus EGP 174.07 million in revenues a year earlier.
Meanwhile, standalone profits shrank to EGP 35.13 million in 2017, from EGP 297.9 million in 2016.
Egyptian Resorts had previously posted EGP 55.6 million in profits for the nine months ended September 2017, against losses of EGP 29.6 million in the same period of 2016.
