Egyptian Resorts Company Swings to Profits in Q1

Thursday, 1st June 2017

Egyptian Resorts Company (ERC) posts consolidated net profits of EGP 66.08 mn during the first quarter of 2017, against losses worth EGP 1.42 mn in the prior-year period, Invest-Gate reports.

Consolidated revenues increased to EGP 121.3 mn in the three-month period ending on March 31, 2017 from EGP 10.3 mn in the same period of 2016.

On a standalone basis, profits grew 41% to EGP 41.31 mn in Q1-17 from EGP 29.25 mn in Q1-16. Total revenues reached EGP 119.8 in Q1-17 mn against EGP 10.4 mn in Q1-16.

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