Cairo - Mubasher: The financial statements of Tourism Urbanization showed a 2% decline in net losses in 2016, according to a bourse filing.
The company said in a statement to the Egyptian Exchange (EGX) on Thursday that net losses reached EGP 18.2 million in the previous year compared to EGP 18.6 million in the year before.
Tourism Urbanization’s ordinary general meeting will be held on 2 May to approve a targeted loan from Banque Misr, and to approve the memorandum of the expiration of Moevenpick Hotel Cairo Pyramids contract with Moevenpick Hotels and Resorts Company and to approve the new contract with Steigenberger Middle East.
The company also noted that its financial statements were not affected by the pound flotation.
