Amer Group’s consolidated profits plummet 78.8% YoY in Q1
Updated 5/23/2022 12:17:00 PM
Arab Finance: Amer Group Holding (AMER) has reported a 78.82% year-on-year (YoY) decline in consolidated profits attributable to the parent company during the first quarter (Q1) of 2022, recording EGP 22.412 million, compared to EGP 105.83 million in Q1 2021, according to the financial statement filed to the Egyptian Exchange (EGX) on May 23rd.
Revenue dropped to EGP 618.15 million in Q1 2022 from EGP 1.024 billion in Q1 2021.
As for the standalone statement, the company turned to losses, suffering a net loss after tax of EGP 17.723 million in the three-month period ended March 31st, compared to a net profit of EGP 29.828 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.
