Cairo – Mubasher: Misr Hotels’ net profit declined by 5.62% year-on-year during the first six months of the fiscal year 2019/2020.

The company’s net profit reached EGP 117.05 million from July to December 2019, compared to EGP 124.03 million in the year-ago period, according to a bourse statement released on Tuesday.

Moreover, the EGX-listed company’s revenue dropped to EGP 215.52 million in the six-month period ended 31 December 2019, from EGP 254.78 million a year earlier.

It is noteworthy that Misr Hotels’ unaudited financial results showed a 12% year-on-year profit growth during the first quarter of FY19/20.