Orascom Hotels & Development Extends Losses to EGP164 mln – H1

Orascom Hotels & Development (ORHD.CA) reported its consolidated financial results on Sunday incurring a net loss of EGP 164 million during the first half of 2013, compared to net loss of EGP 94 million for the same period a year ago.

Meanwhile, Orascom’s standalone net losses have reached in H1/2013 EGP 146 million, opposed to net losses of EGP 156 million in H1/2012.