Arab Finance: Remco for Tourism Villages Construction (RTVC) has reduced its consolidated net loss excluding minority interest by 86.9% year-on-year (YoY), according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 31st.
Consolidated net loss excluding minority interest stood at EGP 60.35 million in Q1 2022, versus a net loss of EGP 463.26 million in Q1 2021.
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.