Golden Pyramids Plaza turns to loss
Updated 11/15/2020 1:27:00 PM
ArabFinance: Golden Pyramids Plaza incurred a consolidated net loss of $6,870,878 (EGP 107,445,622) in the first half (H1) of 2020, according to the company’s November 15th financial statements filed to the Egyptian Exchange.
In H1 2019, the company posted a net profit of $10,449,040 (EGP 163,400,311).
Standalone net profit reached $2,010,826 (EGP 31,444,955) in H1 2020, a 91% decline from $21,981,528 (EGP 343,743,398) posted in H1 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 and cruise lines.
At the press time, the conversion rate $1 =EGP 15.64
