Cairo – Mubasher: Pyramisa Hotels and Resorts said its consolidated profits decreased by 94.98% in the first quarter of 2016, according to a bourse filing.

The company earned EGP 619,100 compared with EGP 12.33 million for the year-ago period.

Meanwhile, its standalone profits fell by 14.7% year-on-year to EGP 5.09 million from EGP 5.97 million.

During 2015, the company’s profits declined 38.9% year-over-year to EGP 56.39 million.