Marsa Marsa Alam reports 27% loss increase in H1 2021

Updated 8/15/2021 5:01:00 PM

ArabFinance: Marsa Marsa Alam for Tourism Development (MMAT) posted a net loss of EGP 879,563 in half one (H1) 2021, according to the unaudited financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 27% when compared to EGP 691,232 in H1 2020.

Marsa Marsa Alam posted a net loss of EGP 554,334 in quarter one of 2021.

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.