Misr Travel announced during its General Assembly meeting that it achieved revenues of 963 million pounds during the current year 2018/2019 and operating expenses of 878.5 million pounds, resulting in a net profit of 85 million pounds.
For her part, Dr. Adla Ragab, chairwoman of the board of Misr Travel, praised these results achieved by the company's business, noting that the company's workforce has reached 2,400 employees, adding: "We will carry out conversion training to make use of them and redistribute them in a way that raises the company's productivity."
In a related context, Sameh Saad, CEO and managing director of the company, praised the measures taken by Rashad El-Refaey, the former chairman of Misr Travel, and the efforts that led to maximizing the company's revenues during the 2018/2019 fiscal year.
He noted that activating the principles of governance completes the administrative, financial and technical restructuring to increase profits, in line with the strategy pursued and entrenched by Hisham Tawfik, Minister of Public Business Sector, and Mervat Hataba, chairwoman of the Holding Company for Tourism and Hotels.
On another note, Saad revealed that the board of directors of Misr Travel is setting strategies, policies and plans that will restore the company's long-standing name and affirm its importance in offering domestic tourism programs, which will be launched electronically through a mobile app that will benefit Egyptians, resident foreigners and visitors, and will be announced soon, alongside its tourism services of programs and transport for individuals, the government and other companies.
He added that the company's goal is to retain its employees and use its numerical strength by carrying out conversion training and redistributing them to fill shortages in various sectors in a way that raises the company's productivity. A number of programs have already been drawn up and implementation of some of them has begun to achieve more revenues and reduce costs, in addition to a number of projects planned in cooperation with EGOTH, noting that the General Assembly approved paying employees a bonus of 7 months.
