Egypt: Amer Group’s becomes profitable in 2023

Revenue climbed to EGP 1.232 billion in the January-December period of 2023 from EGP 870.481 million in the year-ago period

Staff Writer, Arab Finance

February 27, 2024

PHOTO

Amer Group Holding (AMER) posted consolidated net profits attributable to the parent company amounting to EGP 44.092 during 2023, versus net losses of EGP 194.328 million in 2022, according to financial statements filed to the Egyptian Exchange (EGX) on February 27th.

Revenue climbed to EGP 1.232 billion in the January-December period of 2023 from EGP 870.481 million in the year-ago period.

Furthermore, the company recorded a standalone net profit after tax of EGP 2.785 million from January to the end of December, compared to a net loss of EGP 466.332 million in the same period last year.

Amer Group is an Egypt-based leading real estate developer engaged in diversified industry sectors, with its operations being structured into many segments, namely real estate, restaurants, hotels, malls, and retail.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.