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Amer Group's profit inches up in Q1

Amer Group's profit inches up in Q1

ArabFinanceAmer Group (AMER) posted a consolidated net profit before minority interest of EGP 105.837 million in quarter one (Q1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 3.952% when compared to EGP 2.612 million in Q1 2020.

Standalone net profit reached EGP 29,828 million in Q1 2021, against a net loss of EGP 8.447 million incurred in Q1 2020.

On April 22nd, the company announced Muhammad Rifat as the new CEO and managing director of the company.

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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