Remco for Tourism widens consolidated loss in 9 months
Updated 12/1/2021 2:51:35 PM
ArabFinance: Remco for Tourism Villages Construction (RTVC) incurred a consolidated net loss after tax excluding minority shareholders’ interest of EGP 334.44 million in the January-September period of 2021, according to the consolidated financial statement filed to the Egyptian Exchange (EGX).
It is worth noting that the company suffered a consolidated net loss of 206.53 million in the first nine months period of 2020.
In the third quarter (Q3) of 2021, the company incurred a net loss of 68.53 million, versus a net profit of EGP 135.29 million in Q3 2020.
Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.
The company acquires plots of land, designs the development, sells individual units, and retains ownership of public areas such as hotels, landscaped areas, housing complexes, beaches, and water and sewage treatment plants.
