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Misr Hotels swings to loss in H1-20/21

Misr Hotels swings to loss in H1-20/21
The company generated EGP 7.04 million in revenue
Misr Hotels
MHOT
1.41% 14.43 0.20

Cairo – Mubasher: Misr Hotels turned to net losses of EGP 106.46 million in the first half (H1) of fiscal year 2020/2021, against net profits of EGP 117.05 million in the year-ago period, the unaudited financial results.

The company generated EGP 7.04 million in revenue in the July-December period of 2020, down from EGP 215.52 million in the corresponding period a year earlier, according to a bourse disclosure on Wednesday.

During the first quarter (Q1) of FY20/21, Misr Hotels incurred net losses of EGP 67.85 million, versus net profits of EGP 61.66 million in the prior-year period.