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Egyptian International Tourism Q1 profit climbs 37.0% YOY

Egyptian International Tourism Projects Co. said its normalized net income for the first quarter was 48.8 million pounds, a rise of 37.0% from 35.6 million pounds in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 7.6% from 5.8% in the year-earlier period.

Total revenue increased on an annual basis to 636.8 million pounds from 611.4 million pounds, and total operating expenses increased on an annual basis to 601.6 million pounds from 583.7 million pounds.

Reported net income totaled 63.5 million pounds, compared with 45.4 million pounds in the year-earlier period.

As of May 6, US$1 was equivalent to 8.88 Egyptian pounds.