Rowad Tourism turns to profitability in Q3
Updated 12/13/2021 12:59:04 PM
ArabFinance: Rowad Tourism (Al Rowad) (ROTO) recorded a consolidated net profit attributable to the parent company of EGP 12.45 million during the January-September period of 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX).
In the first nine months of 2020, the company’s consolidated net profit excluding minority interest stood at EGP 4.652 million.
In the third quarter (Q3) of 2021, Al Rowad turned to profitability, with a consolidated net profit attributable to the parent of EGP 10.8 million, versus a net loss of EGP 2.62 million in Q3 2020.
On the other hand, the company’s standalone net profit after tax reached EGP 18.32 million in the nine-month period ended September 30th, 2021, up from EGP 8.13 million in the year-ago period.
Rowad is an Egypt-based public shareholding company that operates in the tourism industry.
