Egypt’s corporate news: May 1
The Holding Company for Housing, Tourism and Cinema officially announced its intention to sell its 70.54 percent stake in Misr Hotels –Hilton (MHOT.CA). The HC will begin to review bids starting June 11. It is worth noting that MHOT’s NPAT climbed 21.4 percent to LE28.4 million versus LE23.4 million in the period from July 1,2000 until April 12,2001 compared to the same period in the previous fiscal year. Moreover, net revenues rose 9.5 percent to LE41.3 million compared to LE37.7 million.
Development & Engineering Consultancy (DAPH.CA) released FY2000 results ending December, in which NPAT plunged LE4.8 million to LE1.6 million. Moreover, revenues fell 34.3 percent to LE43.4 million versus LE66.0 million in FY99.
The Ministry of Finance announced a 91-day T-bill auction with a total face value of LE500 million. The issue date is May 3 and the maturity date is August 2.The final date for bids is May 2.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)