Egyptian resort developer reports healthy profit

It may be a different story for this year's results, but development firm Egyptian Resorts posted a significant 18% revenue rise year on year in 2010.

The company reported a full year net profit of EGP 10.6 million ($1.8 million), compared to EGP 8.95 million for 2009, according to Reuters.

The firm, which makes most of its money selling land to developers, had reported a consolidated net loss of EGP3.9m in 2009.  

Source: AMEInfo