Egypt: Remco’s consolidated losses narrow 49% YoY in 2022

Remco for Tourism Villages Construction’s (RTVC) consolidated net losses after tax dropped 49% year on year (YoY) in 2022, as per a statement on August 1st.

Net losses came in at EGP 231.956 million last year, down from EGP 455.168 million during the year before

The firm announced earlier a 69% YoY drop in its standalone net losses after tax in the first quarter (Q1) of 2023, incurring EGP 15.907 million, versus EGP 51.166 million.

Remco is an Egypt-based company that operates in tourism and entertainment projects development and construction.