Egyptian Resorts Company turned to consolidated net losses attributable to the parent company valued at EGP 718.43 million in the first nine months of 2024, according to the financial results.

The net losses were against net profits amounting to EGP 23.05 million in 9 months of 2023.

Loss per share increased to EGP 0.68 as of 30 September 2024 from EGP 0.02 a year earlier, while the operating revenues hiked to EGP 338.38 million from EGP 209.97 million.

As for the standalone business, the EGX-listed company shifted to non-consolidated net losses worth EGP 1.31 billion during the January-September period in 2024. This is compared to EGP 114.78 million in net profit during the same period in 2023.

Operating revenues jumped to EGP 465.54 million from EGP 279.02 million.

Founded in 1995, Egyptian Resorts operates in the tourism and hospitality sectors. It is engaged in the construction and management of integrated tourist and residential projects.

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