El Wadi for Touristic Investment reports profit of EGP1.6mn in 3Q16
El Wadi for Touristic Investment [ELWA.CA] has reported its 3Q16 financial results, showing profit of EGP1.6mn (+28% Y-o-Y, +1% Q-o-Q). Gross profit came in at EGP2mn (-14% Y-o-Y, +14x Q-o-Q), while revenues came in at EGP3.8mn (-25% Y-o-Y, +52% Q-o-Q). The hike in earnings was due to higher investment income worth EGP3mn vs. EGP480,000 in 3Q15. (Company disclosure)
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