El Wadi for International and Investment Development turns to losses in 2021
Updated 6/26/2022 1:25:32 PM
Arab Finance: El Wadi for International and Investment Development (ELWA) has turned to losses in 2021, according to the company’s financial indicators filed to the Egyptian Exchange (EGX) on June 26th.
The company has suffered a net loss after tax of EGP 11.008 million in 2021, compared to a profit of EGP 26.08 million in 2020.
Revenues amounted to EGP 20.87 million last year, down by 43.37% year-on-year (YoY) from EGP 36.86 million.
El Wadi is an Egypt-based company engaged in the tourism investment sector. The company focuses on the establishment and operation of hotels, motels, hotel apartments, gymnasiums, and sauna facilities.
