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FINANCIAL NEWS
Egypt Duty Free revenues up 13.7 percent
18 Jul 2016
(MENAFN) Egypt Duty Free profits increased by 13.7 percent this year due to differences in currency exchange rates, following the devaluation of the Egyptian pound.
Moreover, the activity is influenced by the movement of foreign currencies against the Egyptian pound, particularly the US dollar and the euro.
Meanwhile, net profits of Egypt Duty Free grew to reach USD 6.8mn in financial years 2015/2016, compared to a net profit of USD 6.05mn the year before.
However, tourism declined over the past five years, especially after the downing of the Russian aircraft over the Sinai Peninsula in Oct 2015.
More News
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BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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