Cairo – Mubasher: The consolidated net losses of Remco for Tourism Villages Construction rose by 2.6% year-on-year (YoY) to EGP 455.31  million in 2021 from EGP 443.39 million in 2020, including minority shareholders' rights.

The company's revenues increased to EGP 922.14 million last year, up from EGP 612.47 million in 2020, according to a bourse filing.

As for the standalone businesses, the company has incurred net losses of EGP 358.76 million in 2021, compared to net losses of EGP 99.7 million in the previous year.

It is noteworthy to mention that during the first half (H1) of 2021, the consolidated net losses of Remco shrank by 22.36% YoY to EGP 265.78 million, compared to EGP 342.33 million, including minority shareholders' rights.