Cairo – Mubasher: Misr Hotels reported an 18.5% year-on-year profit increase during the first nine months of the current fiscal year, pushed up by the occupation of The Nile Ritz-Carlton Hotel.

The company’s profit reached EGP 191.67 million from July 2018 to the end of March 2019, compared to EGP 161.73 million in the year-ago period, according to a bourse statement released on Tuesday.

Revenue increased to EGP 391.14 million in the nine-month period ended 31 March versus EGP 359.42 million a year earlier.

Misr Hotels’ share in the revenue of The Nile Ritz-Carlton grew to EGP 272 million in the first nine months of FY2018/2019.