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Amer Group's profit skyrockets 1,783% in nine months

Amer Group's profit skyrockets 1,783% in nine months
The revenues hiked to EGP 1.62 billion in the January-September period
Amer Group
AMER
-1.05% 0.85 -0.01

Cairo – Mubasher: Amer Group Holding Co reported consolidated net profits of EGP 187.92 million in the first nine months of 2021, a leap of 1,783% year-on-year (YoY) from EGP 9.98 million, including minority shareholders' rights. 

The company logged net profits attributable to the parent company's shareholders of EGP 95.56 million, versus net losses of EGP 12.63 million, while the net profits attributable to minority interests surged to EGP 92.35 million from EGP 22.62 million, according to a bourse disclosure on Sunday. 

The revenues hiked to EGP 1.62 billion in the January-September period, compared to EGP 897.86 million in the year-ago period.

Meanwhile, the net standalone net profits slid to EGP 17 million in the nine-month period ended 30 September, compared to EGP 38.57 million in the corresponding period a year earlier. 

In the first half (H1) of 2021, Amer Group Holding Co achieved consolidated net profits of EGP 176.02 million, up from EGP 27.6 million In H1-20, including minority shareholders' rights.