Mena swings to loss

Updated 11/17/2020 11:50:00 AM

ArabFinance: Mena for Touristic and Real Estate Investment incurred a consolidated net loss of EGP 16,248,895 in the first nine months of 2020, according to the company’s November 15th financial statements.

In the same nine-month period of 2019, the company posted a net profit of EGP 12,541,448. 

Standalone net loss reached EGP 7,996,350 in January-September 2020, against a net profit of EGP 11,905,209 posted in the prior-year period.

Mena previously refuted discussions with FAM Holding over a stake purchase in the former.

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