Arab Finance: Rowad Tourism (Al Rowad) has turned to losses in the full year ended December 31st 2022, according to the company’s financial statements filed to the Egyptian Exchange (EGX) on May 21^st.

The company recorded a consolidated net loss attributable to the parent company of EGP 42.140 million in 2022, versus a net profit of EGP 5.536 million in 2021.

It suffered total consolidated revenue loss of EGP 17.768 million in 2022, compared to revenues of EGP 22.200 million in 2021.

As per the standalone financial statement, the company incurred net losses after tax for 2022 amounting to EGP 28.773 million, versus a profit of EGP 12.741 million in 2021.

Al Rowad is an Egypt-based public shareholding company that operates in the tourism industry.

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