ArabFinance: Mena Touristic and Real Estate Investment (MENA) reported a 19% Year on Year increase in its consolidated net loss in Quarter one (Q1) of 2020, according to the company's June 16th  financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 6,227,080 in Q1 2020, compared to EGP 5,218,616 incurred in Q1 2019.

Standalone net loss reached EGP 2,764,662 in Q1 2020, compared to EGP 3,089,082 incurred in Q1 2019.

The company reported a consolidated net profit of EGP 3,714,862 in 2019, against incurring a net loss of EGP 12,490,445 a year earlier. 

Mena is an Egyptian incorporated company established in 1980. It operates in the fields of construction, real estate investment, project management, and urban development both locally and internationally.

During the past 30 years, Mena has developed and marketed more than 125 unique housing projects in Egypt, Sudan & Lebanon through its wide offices' network in Egypt, UAE, Saudi Arabia, Lebanon, and Sudan.