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Published on:
Monday, July 9, 2018 – 2:12 PM
| Last update:
Monday, July 9, 2018 – 2:12 PM
The turnover of 2.8 billion pounds sterling and the net profit of 791.8 million
The General Meeting of the Holding for Tourism and Hotels, led by Hisham Tawfiq, Minister of Public Works, approved the budget for the 2018-2019 fiscal year. Mervat Hataba, President of the Holding for Tourism and Hospitality, considered the report of the Board of Directors on the draft budget for the year 2018-2019 which aims a figure of total business of 392 million LE, an increase of 62% and a net profit of 269 million
According to the project A The company is aiming for a turnover of LE 2.806 billion, a 39% growth over the 2016-17 fiscal year, while the net profit target is LE 791.8 million, an increase of 55% over the 2016-2017 period. The report of the Board of Directors included targeted investments of the subsidiaries during the 2018-2019 fiscal year, rising to 844 million LE, an increase of 195% over the period 2016-2017 , in order to complete the development, replacement and renewal of corporate assets, such as Mena House, Shepherd, Marriot Zamalek, Palestine in Alexandria, and Wu
The Minister ordered the Holding's management to proceed with a comprehensive evaluation of the investment portfolio performance within six months and, in addition to the modernization of agencies of Misr's fleet Tourism and Tourism, and the modernization of economic feasibility studies for investment projects , including the feasibility study for the development of the Shepherd Hotel and the Hotel Marsa Alam
The General Assembly of the Holding for Tourism and Hotels adopted the decision of the Council of Administration And the appointment of Mr. Adel Ragab, Professor of Economics at the University of Cairo as a part-time member of the Board of Directors, who was formerly Deputy Minister of Tourism 2017-2018, and served as economic advisor to the Minister of Tourism for several years, For the Council later.
