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Amer Group's profit sinks 75% in 9M

Amer Group's profit sinks 75% in 9M
Revenues amounted to EGP 897.86 million
Amer Group
1.58% 1.15 0.02

Cairo – Mubasher: The net profits of Amer Group Holding Co plunged by 75% year-on-year (YoY) to EGP 9.98 million during the first nine months of 2020, compared to EGP 39.38 million, including minority shareholders’ rights.

The company’s revenues amounted to EGP 897.86 million during the January-September period, down from EGP 1.002 billion in the corresponding period a year earlier, according to a bourse disclosure on Tuesday.

As for standalone business, Amer Group logged EGP 38.57 million in net profits in the nine-month period ended 30 September, compared to EGP 57.76 million in the prior-year period.

During the first half (H1) of 2020, the company’s net profits rose to EGP 27.608 million from EGP 25.42 million in H1-19, including minority shareholders’ rights.