Cairo – Mubasher: Amer Group Holding Co on Sunday posted a 49.6% year-on-year decline in consolidated profits for 2017 due to lower revenues.
Net profits stood at EGP 92.9 million last year, versus EGP 184.4 million profits in 2016, the company said in a filing to the Egyptian Exchange (EGX).
Revenues narrowed to EGP 2.15 billion in 2017 from EGP 2.4 billion a year earlier.
Meanwhile, standalone profits jumped to EGP 163 million in 2017, versus losses of EGP 11.72 million the year before.
Amer Group’s consolidated profits dropped 73.2% year-on-year to EGP 20.4 million in the three-month period ended September 2017 from EGP 76.3 million in the corresponding period of 2016.
