Sector News

Cairo – Mubasher: The Egyptian Resorts Co posed a 40% year-on-year decrease in its net losses during the first nine months of 2019, the company’s consolidated financial statement showed. The company suffered net losses of EGP 15.2 million in the …

Cairo – Mubasher: Golden Pyramids Plaza reported a 64.5% year-on-year drop in its net profits during the first nine months of 2019, the company’s consolidated financial statements showed. Net profits shrank to $17.44 million during the …

Cairo – Mubasher: The Egyptian Company for International Touristic Projects (Americana Egypt) announced that its major shareholder submitted a complaint against the Financial Regulatory Authority (FRA) for rejecting its mandatory tender offer …

Cairo – Mubasher: Remco for Tourism Villages Construction announced turning profitable during the first nine months of 2019, the company’s consolidated financial statements showed. The company logged a net profit of EGP 7.27 million in the …

Cairo – Mubasher: Americana Group affirmed that the mandatory tender offer (MTO) it submitted for acquiring the remaining shares of the Egyptian Company for International Touristic Projects (Americana Egypt) is in line with the standards and …

Cairo – Mubasher: Cairo Poultry denied being affected by the offer submitted by Americana Group for Food and Touristic Projects to acquire the Egyptian Company for International Touristic Projects (Americana Egypt), according to a bourse …

Cairo – Mubasher: Golden Pyramids Plaza reported a decrease in profits by 42% during the first half (H1) of the current year, as shown by the company’s consolidated financial results. Profits amounted to $10.44 million during H1-19, compared with …

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) has received a mandatory tender offering (MTO) from Americana Group for Food and Touristic Projects to acquire a 9.65% stake in the Egyptian Company for International Touristic …

Cairo – Mubasher: Pyramisa Hotels and Resorts reported a 75.99% year-on-year profit hike during the first nine months of 2019 on the back of rising revenues, the company’s consolidated financial statement showed. Net profits leapt to EGP 61.9 …

Cairo – Mubasher: The unaudited standalone financial results of Remco for Tourism Villages Construction recorded an 86% year-on-year loss increase during the first nine months of 2019. The company suffered net losses of EGP 204.4 million in the …

Cairo – Mubasher: El Wadi for Touristic Investment reported a 30% year-on-year profit rise during the first nine months of 2019. Net profits went up to EGP 45.9 million in the January-September period, compared to EGP 35.28 million in the …

Cairo – Mubasher: Orascom Development Egypt saw its net profits surging by 83% year-on-year during the first nine months of 2019, the company’s consolidated financial results showed on Wednesday. Net profits, including minority shareholders’ …

Cairo – Mubasher: The unaudited financial results of Misr Hotels showed a 12% year-on-year profit growth during the first quarter of fiscal year 2019/2020. Net profits increased to EGP 61.6 million in the three-month period ended 30 September, …

Cairo – Mubasher: The standalone financial statements of Golden Pyramids Plaza reported a 40.5% year-on-year profit surge during the first half of 2019 on the back of lower expenses. Net profits rose to $21.98 million in the January-June period of …

Cairo – Mubasher: Sharm Dreams Company for Touristic Investment signed a contract to hand over the management of Sharm Dreams Resort to Jaz Hotel Group. The ten-year, renewable contract includes a plan to develop Sharm Dreams Resort which is …

Cairo – Mubasher: El Wadi for Touristic Investment reported a 30.98% year-on-year profit growth during the first half of 2019. Net profits amounted to EGP 44.84 million in the January-June period of 2019, compared to EGP 34.23 million in the …

Cairo – Mubasher: The ordinary general meeting (OGM) of Misr Hotels approved to increase the cash dividend distribution for shareholders for fiscal year 2018/2019 to EGP 5 per share instead of the previously proposed dividend of EGP 4. The first …

Cairo – Mubasher: Remco for Tourism Villages Construction aims to achieve real estate contractual sales of EGP 1 billion in 2019. Sales will be generated from a host of projects, mainly its project in the New Administrative Capital and Stella …

Cairo – Mubasher: The ‘O West’ residential project launched by Orascom Development Egypt has generated more than EGP 2.2 billion in sales to date, the company’s CEO Khaled Bichara told CNBC Arabia. The company is set to launch the third phase of …

Cairo – Mubasher: Egyptian Resorts Co announced that its board of directors has approved to launch of its latest project, 270, at a total cost of EGP 444.4 million. The new development is set to span 44.54 square metres with a built-up area (BUA) …

Cairo – Mubasher: An Egyptian court has ruled that Misr Hotels does not have to make any payments to the Ministry of Finance in consideration of the usufruct right over the land on which Nile Hilton Hotel has been established for the period …

Cairo – Mubasher: The impact of the bankruptcy of the UK tour operator Thomas Cook on Orascom Development Egypt’s operations is expected to be immaterial, the Egyptian firm said. The effect is forecast to be minimal on the short term as the …

Cairo – Mubasher: Egyptian Company for International Touristic Projects (Americana Egypt) denied news reports stating that its major shareholder Adeptio AD Investments has submitted an acquisition request to the Financial Regulatory Authority …