Remco’s consolidated loss drops 30.4% YoY in H1
Updated 9/13/2022 12:10:00 PM
Arab Finance: Remco for Tourism Villages Construction (RTVC) posted a 30.48% year-on-year (YoY) decline in consolidated net loss after minority interest for the first half (H1) of 2022, according to the consolidated financial income statement filed to the Egyptian Exchange (EGX) on September 13th.
The company incurred a consolidated net loss after minority interest of EGP 184.85 million in H1 2022, versus a loss of EGP 265.91 million in H1 2021.
It is worth noting that 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.
