ArabFinance: Egyptian Resorts Company (ERC) (EGTS) reported a consolidated loss excluding minority interest of EGP 6.775 million in 2021, down from EGP 45.485 million in 2020, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.
Consolidated operating revenue plunged to EGP 44.825 million in the full year ended December 31st 2021, from EGP 149.979 million in 2020.
Standalone loss after tax plummeted to EGP 28.317 million in 2021, from EGP 66.82 million the year before, financial statement showed.
ERC is an Egypt-based company that operates in the tourism and hospitality sectors. The company is engaged in the construction and management of integrated touristic and residential projects in Sahl Hasheesh and the Red Sea governorate.