Cairo – Mubasher: The consolidated financial statements of Egyptian Resorts Co on Thursday showed that the company turned to losses during the third quarter of 2017, while it turned to profits in the first nine months of 2017.

Net loss amounted to EGP 5.3 million in the three months ended September 2017, versus EGP 7.2 million in the prior-year period, the company highlighted in a filing to the Egyptian Exchange (EGX).

Revenues retreated to EGP 5.8 million in Q3-17, compared to EGP 32.8 million in Q3-16.

In the first nine months of 2017, the company achieved a net profit of EGP 55.6 million, versus a net loss of EGP 29.6 million in the corresponding period of 2016.

Revenues rose to EGP 126.1 million in the nine-month period of 2017 from EGP 38.7 million in the year-ago period.

Standalone profits levelled up to EGP 22 million in the nine-month period of 2017 from EGP 6.5 million in the same period of 2016.

By 10:49 am Cairo time, Egyptian Resorts’ stock settled at EGP 1.49, with a turnover of EGP 657.8 million.