Rowad Tourism turns profitable in 2021 (11 April 2022)
Rowad Tourism (Al Rowad) (ROTO) has turned to profitability in the full year ended December 31st 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on April 11th. The company recorded a consolidated net profit attributable to the parent company of EGP 5.53 million in 2021, versus a net loss of EGP 14.21 million in 2020. Total consolidated revenue amounted to EGP 22.20 million in 2021, up from EGP 12.17 million in 2020. As per the standalone financial statement, the company’s net profit after tax for 2021 grew to EGP 12.74 million from EGP 4.16 million in 2020. Rowad is an Egypt-based public shareholding company that operates in the tourism industry.