Amer Group’s consolidated profit plunge 46.71% YoY in 9 months
Updated 11/13/2024 9:32:00 AM
Arab Finance: Amer Group Holding (AMER) posted a 46.71% year-on-year (YoY) decline in consolidated net profits attributable to the parent company during the first nine months of 2024, according to financial statements filed to the Egyptian Exchange (EGX) on November 13th.
The company’s consolidated excluding minority interest dropped to EGP 19.704 million in the nine-month period ended September 30th from EGP 36.979 million in the same period a year earlier.
Revenue went down to EGP 895.877 million in the January-September period of 2024 from EGP 923.470 million in the year-ago period.
Furthermore, the company incurred a standalone net loss after tax of EGP 6.293 million from January to the end of September, compared to a net profit of EGP 4.305 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.
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