trending Market Intelligence /marketintelligence/en/news-insights/trending/tdk0HTeAoUoTVocBHzyUiQ2 content esgSubNav
In This List

Egyptian Resorts swings to profit in Q2

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Podcast

Next in Tech | Episode 65: The operations side of AI/ML


Egyptian Resorts swings to profit in Q2

Egyptian Resorts Co. SAE said its normalized net income for the second quarter came to 115.3 million pounds, compared with a loss of 3.1 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 rose to 39.0% from negative 7.0% in the year-earlier period.

Total revenue climbed on an annual basis to 270.1 million pounds from 44.4 million pounds, and total operating expenses rose 57.1% on an annual basis to 83.6 million pounds from 53.2 million pounds.

Reported net income came to 168.4 million pounds, compared with a loss of 7.0 million pounds in the prior-year period.

As of Aug. 14, US$1 was equivalent to 7.83 Egyptian pounds.