Cairo – Remco for Tourism Villages Construction suffered consolidated net losses after tax worth EGP 117.70 million in the first nine months (9M) of 2022, versus EGP 334.48 million in 9M-21, including minority interest.

The loss per share settled at EGP 0.48 in 9M-22, an annual plunge from EGP 1.36, according to the consolidated financial results.

Total assets increased to EGP 8.27 billion in January-September 2022, versus EGP 8.17 billion in 9M-21.

Income Statements for Q3-22

During the third quarter (Q3) of 2022, Remco turned profitable at EGP 70.09 million, against net losses after tax worth EGP 68.71 million in Q3-21, including non-controlling interest.

The earnings per share (EPS) reached EGP 0.28 in Q3-22, compared to a loss per share of the same value in the July-September 2021 period.

As for the standalone business, the EGX-listed firm registered standalone net losses worth EGP 47.14 million in 9M-22, compared to EGP 388.91 million during the same period in 2021.

During the first half (H1) of 2022, Remco posted an annual drop in consolidated net loss after tax to EGP 187.79 million from EGP 265.77 million.

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