Cairo – Mubasher: The consolidated financial statements of Mena For Touristic And Real Estate Investment Company (MENA) showed a 19.2% increase in net losses during the first quarter (Q1) of 2020.
The losses for the period amounted to EGP 6.23 million, compared to EGP 5.22 million in the same period of last year, according to a statement to the Egyptian Exchange (EGX).
Revenues decreased during the three-month period to EGP 531,100, down from about EGP 800,000 in Q1-19.
As for the standalone financial results, net losses registered EGP 2.76 million in Q1-20, down from EGP 3.089 million in Q1-19.
In 2019, the company reported a net profit of EGP 3.71 million, versus losses of EGP 12.49 million in the previous year.
