Cairo – Mubasher: Misr Hotels turned to net losses before taxes of EGP 143.14 million in the first nine months of fiscal year (FY) 2020/2021, versus net profits of EGP 142.97 million in the corresponding period a year earlier, the unaudited financial results showed.

The company’s revenues plummeted to EGP 13.64 million in the nine-month period ended 31 March, compared to EGP 288.4 million, according to a bourse disclosure on Tuesday.

During the first half (H1) of FY20/21, Misr Hotels recorded net losses before taxes of EGP 106.46 million, against net profits of EGP 117.05 million in the year-ago period.