Cairo – Mubasher: The unaudited financial results of Misr Hotels posted a 25.4% year-on-year (YoY) decrease in its net profits during the first nine months of fiscal year 2019/2020.

The company’s net profits fell to EGP 142.97 million during the nine-month period ended on 31 March, compared to EGP 191.67 million in the corresponding period a year earlier, according to a bourse disclosure on Sunday.

In addition, the Egyptian firm’s revenues declined to EGP 288.4 million during the first nine months of FY19/20 from EGP 391.14 million in the year-ago period.

It is noteworthy to mention that in the first half of FY19/20, the company’s net profit went down to EGP 117.05 million from EGP 124.03 million in H1 of FY18/19.