ArabFinance:  Golden Pyramids Plaza (GPPL) reported a 91% Year on Year fall in its standalone profit in the first half (H1) of 2020, according to the company’s November 8th financial statements filed to the Egyptian Exchange.

Standalone net profit reached $2,010,826 (EGP 31,548,412) in H1 2020, compared to $21,981,528 (EGP 344,874,347) achieved in H1 2019.

Consolidated net profit stood at $9,169,979 (EGP 143,870,368) in H1 of 2020, a 30% decline from $13,188,693 (EGP 206,921,097) achieved in H1 2019.

In January, the Egyptian  Exchange announced the execution of a block trading deal on 10,028,362 shares of Golden Pyramids worth $12,435,169 (EGP 195,098,848)

Established in 1991 and listed in 1997, Golden Pyramids Plaza operates within the consumer services sector focusing on hotels, resorts & cruise lines. 

At the press time, the conversion rate is $1= EGP 15.69