Remco cuts 75.3% YoY standalone loss in H1

Updated 8/30/2022 1:00:00 PM

Arab Finance: Remco for Tourism Villages Construction (RTVC) posted a 75.26% year-on-year (YoY) decline in standalone loss during the first half (H1) of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.

The company’s standalone net loss after tax dropped to EGP 80.294 million in H1 2022 from EGP 324.612 million in H1 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.