Remco’s consolidated losses deepen to $38.4mln in 2023

Revenues amounted to EGP 744.26 million last year, higher than EGP 223.93 million in 2022, according to consolidated financials

Staff Writer, Mubasher

May 22, 2024

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The consolidated net losses after tax of Remco for Tourism Villages Construction hiked to EGP 1.83 billion in 2023 from EGP 283.53 million at the end of December 2022

Revenues amounted to EGP 744.26 million last year, higher than EGP 223.93 million in 2022, according to consolidated financials.

Loss per share hit EGP 7.43 in the January-December 2023 period, up year-on-year (YoY) from EGP 1.15.

Meanwhile, the company registered assets totalling EGP 9.73 billion as of 31 December 2023, an annual rise from EGP 8.66 billion.

Regarding the standalone income results, Remco reported higher net losses at EGP 1.55 billion in 2023, compared to EGP 210.60 million in 2022.

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