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Amer Group turns to loss

Amer Group turns to loss

ArabFinance: Amer Group incurred a consolidated net loss of EGP 12,639,748 in the first nine months of 2020, according to the company’s November 10th financial statements filed to the Egyptian Exchange.

In the January-September period of 2019, the company posted a consolidated net profit of EGP 47,398,676.

Standalone net profit reached EGP 38,570,837 in the January-September period of 2020, a 33% decline from EGP 57,769,318 posted in the corresponding period a year earlier.

Amer Group’s subsidiary Delmar for Touristic Development signed EGP 450 million funding agreement with Ahli United Bank.

Amer Group is engaged in diversified industry sectors, with its operations being structured into many segments, namely real estate, restaurant, hotel, malls, retail, among others.

Other activities include the provision of touristic boats, investment and marketing, and real estate maintenance services. 

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