Remco suffers higher net losses at $31.3mln in 2023

The loss per share enlarged to EGP 6.31 last year from EGP 0.85 in 2022, according to the income results

Staff Writer, Mubasher

April 29, 2024

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Remco for Tourism Villages Construction incurred non-consolidated net losses valued at EGP 1.55 billion in 2023, an annual hike from EGP 210.60 million.

The loss per share enlarged to EGP 6.31 last year from EGP 0.85 in 2022, according to the income results.

Revenues declined to EGP 150 million as of 31 December 2023 from EGP 156.02 million a year earlier.

Total assets hiked year-on-year (YoY) to EGP 8.16 billion in 2023 from EGP 6.99 billion.

In the nine-month period that ended on 30 September 2023, the standalone net losses after tax jumped to EGP 969.14 million from EGP 47.14 million during the same period in 2022.

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