Misr Hotels’ net profit increases by 129.7% in 6 months

Misr Hotels Company (MHOT) reported a 129.7% year-on-year (YoY) hike in net profit for the first half (H1) of fiscal year (FY) 2022/2023, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on Monday.

The company has achieved a net profit after tax of EGP 347.209 million in the six-month period ended December 31st, compared to EGP 151.131 million in H1 FY 2021/2022.

It is worth mentioning that the company achieved a net profit after tax of EGP 126.77 million in the three-month period ended September 30th, compared to EGP 66 million in Q1 FY 2021/2022.

Misr Hotels is an Egypt-based joint stock company engaged in tourism investment activities.