Egyptian Resorts Company
CAI:EGTS ISIN:EGS70431C019
News
Egyptian Resorts Company (CAI:EGTS), Egypt's leading master developer of mega communities, announced today its consolidated results for the second quarter of 2010, reporting a net profit of EGP 2.98 million on revenues of EGP 2.85 million. Profits were supported by EGP 14.36 million in foreign exchange gains and interest income.
Egyptian Resorts Company (ERC) (CAI:EGTS), Egypt's largest master developer of mega resort communities, announced today that its board of directors has appointed leading academic and industry expert Dr. Samir Makary as the company's chairman.
Egyptian Resorts Company (CAI:EGTS), Egypt's leading master developer of mega communities, announced today its consolidated results for the first quarter of 2010, reporting a net loss of EGP 2.9 million on revenues of EGP 4.4 million. By comparison, ERC reported profit of EGP 9.5 million in the first quarter of 2009 on revenues of EGP 6.7 million, bolstered by lower depreciation charges and substantial foreign exchange gains. Profits in the quarter just ended were impacted by both a 34.3% drop in revenue and a sharp 675% rise in depreciation costs to EGP 3.2 million on the back of infrastructure and network assets capitalized last year.
Egyptian Resorts Company (CAI:EGTS), Egypt's largest master developer of mega resort communities, and Orascom Development Holding (SIX: ODHN:SW) announced today that they had concluded an agreement under which Orascom Development and Management (ODM), a subsidiary of global powerhouse Orascom Development Holding (ODH), will manage the development of the Marina at Sahl Hasheesh.
Egyptian Resorts Company (ERC) (CAI:EGTS) announces consolidated revenue of EGP 25.7 million and consolidated earnings before tax of EGP 8.1 million compared to EGP 347.7 million and EGP 345.9 million respectively for the previous year.
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