Cairo – Mubasher: Misr Hotels earned a net of EGP90.3 million during the nine-month period ended in 31 March 2016 against a net loss of EGP22.2 million for the year-ago period.

The board of directors agreed to deduct the EGP118.8 million retained losses from the company’s capital reserve standing at EGP222.6 million.

Moreover, the board of directors approved 2016/17 estimated budget in which the company targets to earn EGP31.7 million.

In the first half of 2015, the company achieved a net profit of EGP84.2 million against a net loss of EGP14.5 for the year-ago period.