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Egypt's Holding Company for Tourism, Hotels & Cinema revenues hit EGP 4 bln, net profits up to EGP 987 mln

The holding company, individually, gained EGP 334 million in revenues, with a growth rate of 43.2 percent, while its net profits increased to EGP 191.7 million, with a growth rate of 23 percent, the statement read

Doaa A.Moneim , Wednesday 15 Jan 2020
Tourism Holding Company meeting
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Egypt's Holding Company for Tourism, Hotels & Cinema and its subsidiaries collected revenues worth EGP 4 billion in fiscal year 2017/2018, achieving a growth rate of 26 percent. The company's net profits recorded EGP 987 million, with a growth rate of 16.5 percent.

The company announced these figure during its general meeting on Wednesday, chaired by the Minister of Public Enterprise Hisham Tawfik.

The company's financial statement unveiled that the holding company, individually, achieved EGP 334 million in revenues with a growth rate of 43.2 percent, while its net profits increased to EGP 191.7 million, with a growth rate of 23 percent.

The subsidiaries' revenues increased by 20.3 percent, recording EGP 3.1 million, with net profits of EGP 795.3 million, increasing by 15 percent.

Venture expenditure in fiscal year 2018/2019 recorded EGP 199 million, spent on assets scraping and building, while private sector venture expenditure were estimated at EGP 310 million, spent on a number of projects supervised by the company.

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