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Golden Pyramids’ net profits fall 91.7% over H1 of 2015 - Daily News Egypt

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Golden Pyramids’ net profits fall 91.7% over H1 of 2015

Construction company Ramco Resorts’s losses decreased by 41.75%


Golden Pyramids Plaza’s net profits for the first half (H1) of 2015 fell 91.7% to record $1.37m (EGP 10.7m), the company said in a bourse filing posted Sunday. The latest figures compare to the $19.5m (EGP 152.4m) recorded in the same period of 2014.

Meanwhile, gross profits during H1 of 2015 have increased, amounting to $71.5m, compared to $45.86m in H1 of 2014.

In the first quarter (Q1) of fiscal year (FY) 2014/2015, the company reported a 20% decrease in consolidated net profits. The consolidated profits, recorded $18.567m (EGP 145.9m) in Q1 of FY 2014/2015, marking a decrease from $23.28m (EGP 183m) in the same period in the previous year.

Meanwhile, the company’s standalone net profit in Q1 of 2015 significantly decreased, amounting to $5.193m (EGP 145.9m), compared to $19.070m (EGP 145.8m) recorded in Q1 of 2014. Golden Pyramids Plaza’s capital is $539m distributed over 539m shares, with a nominal value of $1 per share.

On the other hand, Ramco Resorts construction company’s losses decreased by 41.75% during H1 of 2015, compared to the company’s losses last year. The company said that the net losses recorded $2.5m (EGP 19.85m) over H1 of 2015, compared to $4.36m (EGP 34m) marked over the same period of 2014.

Meanwhile, the total company’s profits over H1 of 2015 reached EGP 43.4m, compared to EGP 34.9m over H1 of 2014.

The independent results have shown that the company has decreased its losses by 27% over H1 of 2015, recording $1.56m (EGP 12.255), compared to $2.14m (EGP 16.77m) over the same period last year.

Ramco earlier announced recording $1.2m (EGP 9.3m) in consolidated losses over Q1 of 2015, compared to losing $836,000 (EGP 6.4m) in Q1 of 2014. Ramco’s capital is EGP 2.5bn, distributed on 247.8m shares, with a share value of EGP 10

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