Mena for Touristic swings to loss

Updated 3/9/2021 10:13:00 AM

ArabFinance: Mena for Touristic and Real Estate Investment suffered a consolidated net loss of EGP 23.357 million, versus net profit EGP 3.718 million posted a year earlier, according to the company’s March 9th financial statements filed to the Egyptian Exchange.

Standalone net loss reached EGP 15.468 million in 2020, against a net profit of EGP 7.131 million achieved in 2019.

The company will split the stock’s par value to EGP 1 from EGP 2 per share on March 11th.

The listed firm 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.