Arab Finance: Mena for Touristic and Real Estate Investment incurred 171.01% year-on-year (YoY) higher consolidated net losses attributable to the shareholders in 2024, according to the financial results.
The net losses hit EGP 25.684 million last year, compared to EGP 9.474 million at the end of December 2023.
Loss per share increased to EGP 0.11 in 2024 from EGP 0.03 a year earlier, while the revenues plunged to EGP 7.833 million from EGP 10.665 million.
As for the standalone business, the non-consolidated net losses after tax climbed to EGP 15.598 million in the 12-month period that ended on December 31st, 2024, from EGP 5.717 million in 2023.
Mena for Touristic Investment recently inked an agreement with Concrete Plus Engineering and Construction to build a multi-purpose commercial project.