Cairo – Mubasher: Remco for Tourism Villages Construction incurred standalone net losses after tax amounting to EGP 15.90 million in the first quarter (Q1) of 2023, compared to EGP 51.16 million in Q1-22.

Non-consolidated loss per share hit EGP 0.06 as of 31 March 2023, an annual plunge from EGP 207, according to the income statements.

The gross profits enlarged to EGP 9.21 million in Q1-23 from EGP 6.80 million in the January-March 2023 period.  

During the first three months (3M) of 2023, the EGX-listed company registered total assets valued at EGP 6.92 billion, lower than EGP 7.02 billion as of 31 December 2022.

In 9M-22, the standalone net losses plummeted to EGP 47.14 million from EGP 388.91 million during the same period a year earlier.