Cairo – Mubasher: The standalone net losses of Remco for Tourism Villages Construction widened by 166.2% year-on-year (YoY) to EGP 324.61 million in the first half (H1) of 2021, compared to EGP 121.9 million. 

The hotel business generated an income of EGP 12.4 million in the January-June period, compared to a loss of EGP 2.7 million in the prior-year period, the company said in a bourse disclosure on Monday. 

During the first quarter (Q1) of 2021, Remco for Tourism Villages Construction reported net losses of EGP 463.61 million, up from EGP 132.17 million in Q1-20, including minority shareholders' rights. 

The standalone net losses increased to EGP 272.59 million in the January-March period from EGP 57.78 million in the same period in 2020.