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Remco loss widens

Remco loss widens

ArabFinance: Remco for Tourism Villages Construction (RTVC) posted a consolidated net loss before minority interest of EGP 463.266 million in quarter one (Q1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 250% when compared to EGP 132.176 million in Q1 2020.

Standalone net loss reached EGP 272.590 million in Q1 2021, a 372% increase from EGP 57.783 million posted in Q1 2020.

Remco’s ordinary general assembly approved to complete construction works of Stella Di Mare Village with EGP 50 million.

Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.

The company acquires plots of land, designs the development, sells individual units, and retains ownership of public areas such as hotels, landscaped areas, housing complexes, beaches, and water and sewage treatment plants.

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04 Oct 2021
United Housing & Development UNIT

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