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Amer Group's profit rises 8.5% in H1-20

Amer Group's profit rises 8.5% in H1-20
The company’s revenues edged down to EGP 690.31 million
Amer Group
AMER
-2.06% 1.00 -0.02

Cairo – Mubasher: Amer Group Holding Co achieved net profits of EGP 27.608 million in the first half (H1) of 2020, up by 8.5% from EGP 25.42 million in the year-ago period, including minority shareholders’ rights.

The company’s revenues edged down to EGP 690.31 million in the January-June period from EGP 691.7 million in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

Moreover, Amer Group’s standalone net profits amounted to EGP 41.4 million in H1-20, down from EGP 65.36 million in H1-19.

It is worth mentioning that during the first quarter of 2020, the company reported net profits of EGP 10.65 million, versus net losses of EGP 4.55 million in the year-ago period.