Egyptian Resorts Co. (ERC) posted EGP 44.9 million consolidated net loss for the first nine months of FY14, deepening 120% from EGP 20.4 million net loss reported in the same period a year earlier.
Non-consolidated financial results for the same period showed EGP 30.2 million net profit, against EGP 4.2 million net loss.
The company’s consolidated financial results for H1-14 had shown that net loss deepened 97.9% to EGP 21.3 million, compared with EGP 10.7 million logged in the same period a year earlier.
Meanwhile, H1 standalone financial results showed EGP 9.2 million net loss, against EGP 14.4 million net profit in H1-13.
Consolidated financial results for Q1-14 had shown that net loss deepened 1.5% to EGP 12.2 million, compared with EGP 12 million net loss logged in the same period a year earlier.
Meanwhile, standalone financial results for the same quarter mirrored EGP 8.7 million net loss, against EGP 14.7 million net profit in Q1-13. The company had logged EGP 47.728 million net loss in FY13, narrowing 56.6% y/y from EGP 110.02 million. ERC operates with issued and paid-in capital of EGP 1.050 billion, divided into 1.050 billion shares at EGP 1 par value each.