ArabFinance: Marsa Marsa Alam for Tourism Development (MMAT) posted a net loss of EGP 554,334 in quarter one (Q1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.
This marked a Year on Year (YoY) rise of 84% when compared to EGP 301,131 in Q1 2020.
The listed company changed the name of its resort from Badawya village to Triumph Marsa Alam.
Marsa Masra Alam, formerly Marsa Alam for Touristic Development (MATD), a member of Kharafi Group, is an Egypt-based company that is engaged in the development and construction of different touristic communities and villages.