Remco for Touristic Villages Construction posted consolidated net loss of EGP 34.1 million for H1-14, against EGP 2.1 million net profit in the same period a year earlier.
The company had posted standalone net loss of EGP 16.8 million for H1-14, deepening 116% compared with EGP 7.8 million net loss in the corresponding period a year earlier.
The company’s consolidated financial results for Q1-14 had shown that net loss deepened 59% to EGP 6.5 million, compared with EGP 4.1 million net loss in the same period a year earlier. Meanwhile, standalone financial results for the same period mirrored EGP 4.6 million net loss, narrowing 29% year-over-year from EGP 6.5 million net loss in Q1-13. The company’s FY13 consolidated financial had shown EGP 834 thousand net loss, against EGP 8.9 million net profit a year earlier.