Cairo – Mubasher: Misr Hotels recorded an 18% year-on-year profit rise during fiscal year 2018/2019 on higher sales.
Net profits stood at EGP 176.39 million in the twelve-month period ended 30 June, compared to EGP 149.7 million in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, sales increased to EGP 496.5 million in FY18/19 from EGP 462.05 million in FY17/18.
The company’s board of directors proposed a cash dividend distribution of EGP 4 per share with a combined value of EGP 52.8 million for FY18/19.
During the first nine months of FY18/19, Misr Hotels logged a profit of EGP 191.67 million, compared to EGP 161.73 million in the year-ago period.
