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Misr Hotels targets EGP 213m profit in FY20/21

Misr Hotels targets EGP 213m profit in FY20/21
The company aims to generate EGP 475.688 million in revenue
Misr Hotels
MHOT
0.00% 117.06 0.00

Cairo – Mubasher: Misr Hotels aims to increase its net profits by 15% year-on-year during fiscal year 2020/2021, the company’s planned budget showed.

The Egyptian firm plans to achieve net profits of EGP 213 million in the coming fiscal year, compared to an expected EGP 185.29 million and an approved EGP 223.9 million in FY19/20, according to a bourse statement on Monday.

In addition, the company aims to generate EGP 475.688 million in revenue during FY20/21, compared to an expected revenue of EGP 433.566 million in FY19/20.

The estimated budget also showed planned investments of EGP 164.04 million for the coming fiscal year.

It is noteworthy to mention that during the first half of FY19/20, Misr Hotels reported net profits of EGP 117.05 million, down from EGP 124.03 million in the year-ago period.