ArabFinance:  Golden Pyramids Plaza (GPPL) reported a 91% Year on Year decline 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 (EGX).

Standalone net profit reached $2,010,826 (EGP 31,548,412) in the January-September period of 2020, compared to $21,981,528 (EGP 344,874,347) achieved in the prior-year period.

Consolidated net profit stood at $9,169,979 (EGP 145,980,563) in Q1 2020, a 30% decline from $13,188,693 (EGP 209,956,079) achieved in Q1 2019.

In January, the EGX announced the execution of a block trading deal on 10,028,362 shares of Golden Pyramids worth $12,435,169 (EGP 198,825,918).

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 15.92