Cairo – Mubasher: Remco for Tourism Villages Construction on Thursday posted a 19% year-on-year decline in consolidated losses for the first nine months of 2018.
Net loss amounted to EGP 71.7 million in the nine-month period ended September, versus EGP 88.6 million in the year-ago period, the company said in a filing to the Egyptian Exchange (EGX).
As for standalone business, the company suffered losses of EGP 110.3 million at the end of September, up from EGP 74.2 million in the same period of 2017.
Remco previously reported a 40% year-on-year increase in consolidated losses for the first half of 2018.
Net loss reached EGP 78.14 million in H1-18, compared to EGP 55.7 million in the year-ago period.
As for standalone losses, the company incurred EGP 82.06 million during the six-month period ended June, up from EGP 37.81 million in the corresponding period of 2017.
