Arab Finance: Mena for Touristic and Real Estate Investment’s (MENA) consolidated net losses attributable to the holding company rose 310.6% year on year (YoY) in the first quarter (Q1) of 2024 to EGP 4.505 million, compared to EGP 1.097 million, as per a disclosure.

The company generated operating revenues of EGP 1.674 million in Q1 2024, down from EGP 2.58 million in Q1 2023.

The company recorded standalone net losses after tax of EGP 1.993 million in the three months to March 31st this year, versus EGP 1.201 million in net profits in the corresponding period a year prior.

Meanwhile, standalone operating revenues fell to EGP 1.674 million from EGP 2.58 million.

Mena, established in 1980, operates in the fields of construction, real estate investment, project management, and urban development both locally and internationally.

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