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Business Results and the most important
financial and economic indicators
for the fiscal year 2017/2018

 

First: Results of the Holding Company for Tourism and Hotels for fiscal year 2017/2018

I have the honor to present to the esteemed General Assembly a summary report on the results of the financial year ended 30/08/2018 which are reflected in the financial statements after the review of the Central Auditing Organization. The company achieved total revenues of about 233.4 million pounds in 30/6/2018 compared to 242.3 million pounds during the comparison year 2016/2017 with a decrease of 8.9 million pounds ,a decrease of 3.6% compared to 233.3 million pounds for the fiscal year 2017/2018 Due to the decrease in revenues during the fiscal year presented for the comparison year, the Holding Company achieved revenues during the comparison year amounting to 63.6 LE million from the sale of the administrative building by liberation. If this figure is excluded for comparison purposes, the Holding Company achieved an increase in revenues by 54.7% in addition to a 20% LE discipline providing liquidity to companies to complete development and challenge.

Statement of Revenues of
The Holding Company for Tourism and Hotels

(Values in million pounds)

Evolution %2017/20182016/2017The statement
86.3121.830141.111Stake in the profits of subsidiaries
382.558.92215.445Revenue from the editorial hotel
0063.601Revenue of the administrative building
237.552.61822.146Other income (other interest income)
96.3233.370242.303Total revenue

(Values in million pounds)

The total costs and expenses amounted to 76.5 million pounds in 2017/2018 compared to 79.2 million pounds in 2016/2017, a decrease of 2.7 million pounds, a decrease of 3.4% and against 105.4 million pounds target for the financial year 2017/2018 deficit of 27.6% due to the completion of the administrative building and the liberation of the Steigenberger Hotel. This is in addition to the inevitable increases in wages, while the rest of the company’s expenses remained at the same rate of expenditure last year as a result of efforts by the holding company to reduce spending and follow the rationalization policies.

The Holding Company achieved a net profit of 155.801 million pounds in 2017/2018 against 163.1 million pounds during the comparison year 2016/2017 with a decrease of 7.3 million pounds with a decrease of about 4% and against 127.8 million pounds net profit for the fiscal year 2018 due to the inclusion of the former public prosecutor in the amount of 50.8 LE million net profit from the sale of the administrative building by liberation. In case of exclusion for comparative purposes, the company achieved an increase of 54.5 million LE, an increase of 53%.

(Values in million pounds)

The total investment expenditure of the Holding Company
during the fiscal year 2017/2018 amounted to about
105.5 million pounds compared to 83.7 million pounds on the language
hotel Ras al-Bar in the city of Damietta and is scheduled to
open at the end of 2018/2019

(Values in million pounds)

 

Other income:

The companies achieved other revenues of about 295.6 million LE during 2017/2018 despite the postponement of the collection of payments due to the developers from 210 million LE according to the decision of the Engineer the Prime Minister regarding the contractors’ compensation by granting them 6 months and 6 months after releasing the price compared to 521 million LE in 2016/2017, a decrease of about 225 million pounds, a decrease of 43%, which is the income of financial investments resulting from the participations with developers and private sector and miscellaneous profits, bringing the total revenue during the fiscal year supply 2.948 billion pounds compared to 2.540 billion EGP for comparison year 2016/2017 an increase of about 408 million pounds, an increase of 16%.

 

Total operating income:

The results of the current activity of the subsidiaries resulted in achieving total operating income after deducting the administrative and marketing expenses by 885.7 million LE in 2017/2018 against 336.6 million LE during the fiscal year 2016/2017, an increase of 549.1 million LE or 343%. The companies achieved a total profit of 1.536 billion LE compared to 1.084 billion LE, an increase of about 452 million LE, an increase of about 42%. This indicates an increase in the economic efficiency of the current activity of the subsidiaries. The profit margin reached 58% compared to 54% compared to 38% during 2015/2016.

 

Net profit before tax:

The subsidiaries achieved a pre-tax net profit of 836 million LE in 2017/2018 compared to 614 million LE in 2016/2017 with a growth rate of 136%.

Net profit after tax:

The subsidiaries net profit after interest and tax for the fiscal year ended 06/6/2018 amounted to 690.8 million pounds compared to 530.2 million pounds in 2016/2017, an increase of 160.6 million pounds, an evolution of 130% and against 661.4 million pounds target for the fiscal year 2017/2018, an increase of 29.4 million pounds, an increase of 4.4%.

(Values in million pounds)

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