Cairo – Mubasher: Remco for Tourism Villages Construction turned into consolidated net losses valued at EGP 26.44 million in the first quarter (Q1) of 2024, versus net profits of EGP 214.76 million in Q1-23.
Net sales jumped to EGP 164.78 million in Q1-24 from EGP 208,000 in Q1-23, according to the financial results.
Loss per share hit EGP 0.11 as of 31 March 2024, compared to an earnings per share (EPS) worth EGP 0.87 during the same period in 2023.
Standalone Results
Remco incurred standalone net losses after tax amounting to EGP 18.12 million in the January-March period, lower year-on-year (YoY) than EGP 43.36 million.
In the 12-month period that ended on 31 December 2023, the EGX-listed firm posted higher consolidated net losses after tax at EGP 1.83 billion, compared to EGP 283.53 million in 2022.
