Amer Group’s consolidated profits drop 34.5% YoY in H1

Updated 8/13/2024 9:29:00 AM
Amer Group’s consolidated profits drop 34.5% YoY in H1

Arab Finance: Amer Group Holding (AMER) has reported a 34.55% year-on-year (YoY) decrease in consolidated profits attributable to the parent company during the first half (H1) of 2024, recording EGP 11.801 million, compared to EGP 18.032 million in H1 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 13th.

Revenue declined to EGP 523.335 million in H1 2024 from EGP 651.827 billion in H1 2023.

As for the standalone statement, the company incurred net losses after tax of EGP 4.781 million in the six-month period ended June 30th, compared to a net profit of EGP 5.404 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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