Egypt’s Amer Group net profits drop, revenues up 11% in Q1

CAIRO - 14 May 2017: Amer Group Holding Co. recorded net profits worth 64 million EGP ($3.54 million) during the first quarter (Q1) of 2017, down from 68 million EGP in the same period a year earlier, the property developer said in a statement to the Egyptian Exchange.

Total revenues registered 803 million EGP during Q1, marking an 11 percent increase from 544 million EGP reported in the corresponding period in 2016.

In 2016, Amer Group net profits jumped 9.8 percent to 194.4 million EGP, up from 167.8 million EGP in the previous year.