Arab Finance: Amer Group Holding (AMER) reported a 57.5% year-on-year (YoY) decrease in consolidated net profits attributable to the parent company during the first quarter (Q1) of 2024, recording EGP 11.802 million, compared to EGP 27.812 million, according to a financial statement on May 16th.

Revenues increased to EGP 265.42 million in Q1 2024 from EGP 390.438 billion in Q1 2023.

As for the standalone statement, the company registered net losses after tax of EGP 2.775 million in the three-month period ended March 31st, compared to a net profits of EGP 11.717 million in the year-ago period.

Amer Group is engaged in diversified industry sectors, with its operations being structured into many segments, namely real estate, restaurants, hotels, malls, and retail.

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