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Amer Group reports profit drop

Amer Group reports profit drop

ArabFinance: Amer Group (AMER) posted a consolidated net profit of EGP 8.08 million in 2020, lower 55% when compared to EGP 42.99 million in 2019, according to the company’s filing to the Egyptian Exchange on February 28th.

The company’s standalone net profit stood at EGP 34.04 million in 2020, compared to EGP 60.43 million in the prior year.

During the first nine months of 2020, the company suffered a consolidated net loss of EGP 12.63 million, versus a consolidated net profit of EGP 47.39 million in the corresponding period of 2019.

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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