Egypt’s Orascom Hotels 2013 Net Loss Hits EGP562 mln

Egypt’s Orascom Hotels and Development (ORHD.CA) reported on Wednesday it incurred net losses of around EGP 562.345 million for 2013. Consolidated net loss in 2013 was EGP 328.341 million.

Meanwhile, Orascom revealed that its standalone net loss has hit EGP 312.887 million in 2013, compared to losses amounted to EGP 390.815 million a year earlier.