ArabFinance: Egyptian Resorts Company's (ERC) (EGTS) board of directors approved re-studying the establishment of 321 residential units on 44,354 square meter due to the coronavirus repercussion on tourism sector, according to the company's June 7th statement filed to the Egyptian Exchange.
In the first nine months of 2019, the company incurred a consolidated net loss of EGP 15,299,114, compared to net loss of EGP 25,630,691 in the same period a year ago.
Moreover, it incurred a standalone net loss of EGP 57,137,527, compared to loss of EGP 22,575,820 in the same period last year.
ERC is an Egypt-based company that operates in the tourism and hospitality sectors. The company is engaged in the construction and management of integrated touristic and residential projects in Sahl Hasheesh area, Red Sea province
