Cairo – Mubasher: Remco for Tourism Villages Construction turned to consolidated net profits after tax amounting to EGP 144.42 million in the first half (H1) of 2023, including minority interest.
The generated profits were against net losses standing at EGP 187.79 million in H1-22, according to the income statements.
Earnings per share (EPS) reached EGP 0.59 in the January-June 2023 period, versus a loss per share valued at EGP 0.76 during the same period a year earlier.
Total assets hit EGP 8.58 billion in H1-23, up from EGP 8.46 billion as of 31 December 2022.
Financial Results for Q2-23
In the second quarter (Q2) of 2023, the net losses after tax stood at EGP 125.11 million, down year-on-year (YoY) from EGP 127.21 million.
The loss per share declined to EGP 0.51 in Q2-23 from EGP 0.52 in Q2-22.
Last year, Remco incurred consolidated net losses worth EGP 235.53 million, lower than EGP 455.31 million in 2021, including non-controlling interest.
