Mubasher TV
Contact Us Advertising   العربية

Amer Group swings to profitability in 2023

Amer Group swings to profitability in 2023
Photo Archive
Amer Group
AMER
-5.33% 0.94 -0.05

Cairo – Mubasher: Amer Group Holding Company turned to profitability during the financial year 2023, recording a consolidated net profit of EGP 45.91 million, compared to a net loss of EGP 101.87 million the year before.

The company’s consolidated revenues surged to EGP 1.23 billion last year from EGP 870.48 million in 2022, according to unaudited financial indicators.

Amer Group reported earnings per share (EPS) of EGP 0.06 for the year 2023.

Standalone Results

The company posted a net profit of EGP 2.75 million last year, versus a net loss of EGP 46.33 million in 2022.

The standalone EPS reached EGP 0.003 in 2023.

It is worth noting that Amer Group logged a consolidated net profit of EGP 40.07 million in the first nine months (9M) of 2023, up from EGP 35.13 million in the comparative period a year earlier.