Arab Finance: Amer Group Holding (AMER) posted a 92.8%year-on-year (YoY) decline in consolidated attributable to the parent company during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on November 11th.

The company’s consolidated excluding minority interest dropped to EGP 6.84 million in the nine-month period ended September 30th from EGP 95.565 million in the same period a year earlier.

Revenue decreased to EGP 1.312 billion in the January-September period of 2022 from EGP 1.621 billion in the year-ago period.

Furthermore, the company recorded a standalone net loss after tax of EGP 30.572 million from January to the end of September, compared to a net profit of EGP 17.08 million in the same period last year.

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