The board of Misr Hotels Co. endorsed financial results for the fiscal year that ended on June 30, 2014, which mirrored EGP 31.2 million net loss, widening 88% from EGP 16.6 million net loss a year earlier.
The company’s financial results for the nine-month period from July 1, 2013 till March 31, 2014 had shown that losses soared 140% to EGP 25.5 million, compared with EGP 10.7 million loss incurred in the same period a year earlier.
The hotel operator had posted EGP 18.42 million loss for the six-month period from July 1 till December 31, 2013.