The Egyptian General Company for Tourism and Hotels (EGOTH) announced that its net profit for the fiscal year 2016/17 has grown 85% on the back of better than expected revenues. The company said in a presser on Monday that its net profit came in EGP 341m, while activities revenue stood at EGP 574.6m, an increase of 114% on a yearly basis.
Meanwhile, the company’s general assembly approved to name Sherif El Bendary as the new chairperson after Samir Hassan.
Egypt for Tourism, another subsidiary of the Holding Company for Tourism and Hotels, announced also an increase of 83% in its net profit during the last fiscal year that ended in June. The company generated a net profit of EGP 51.8m, while revenues hit EGP 612.1m.
EGOTH is a subsidiary of Holding Company for Tourism and Hotels. The company has more than 10 hotels distributed in Cairo, Giza, Luxor, Aswan, Alexandria, and South Sinai.