Egypt: Remco’s standalone losses cross $31mln in 9M-23

Egypt: Remco’s standalone losses cross $31mln in 9M-23

Cairo: The standalone net losses after tax of Remco for Tourism Villages Construction hit EGP 969.14 million in the first nine months (9M) of 2023, an annual hike from EGP 47.14 million.

Loss per share reached EGP 3.93 in January-September 2023, higher year-on-year (YoY) than EGP 0.19, according to the income statements.

Total assets amounted to EGP 7.37 billion at the end of September 2023, compared to EGP 6.99 billion as of 31 December 2022.

In the first half (H1) of 2023, Remco turned profitable at EGP 144.42 million, against net losses valued at EGP 187.79 million in H1-22, including minority interest.

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