Egypt: Remco's consolidated losses drop by 77% in 9 months

The incurred net losses were lower by 77.763% year-on-year

Staff Writer, Arab Finance

December 17, 2024

PHOTO

Remco for Tourism Villages Construction (RTVC) reported consolidated net losses, excluding minority interest, of EGP 386.179 million in the first nine months of 2024, according to the financial results.

The incurred net losses were lower by 77.763% year-on-year (YoY) than EGP 1.736 billion.

Revenues from sold units declined to EGP 425.595 million in the first nine months of 2024 from EGP 627.885 million a year earlier.

Loss per share plummeted to EGP 1.565 as of 30 September 2024 from EGP 7.037 a year earlier.

In the first half (H1) of 2024, the company turned to net profits after tax and non-controlling interest worth EGP 144.335 million, against net losses of EGP 187.797 million in H1 2023.

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