Cairo – Mubasher: Remco for Tourism Villages Construction (RTVC) reported a 6% year-on-year drop in its standalone losses during the first quarter of 2019.
The company suffered net losses of EGP 54.58 million in the January-to-March period, compared to EGP 58.12 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.
No profits have been achieved in the company’s real estate activity, while the hotels activity logged profits of EGP 5.84 million in Q1-19, compared to EGP 6.72 million in Q1-18.
For the full-year 2018, the company logged EGP 220.86 million in profits from EGP 273.13 million in the previous year.
At the level of standalone business, the company’s profits fell by 39.19% to EGP 106.64 million last year, compared to EGP 175.36 million in 2017.
