Egyptian real estate company Amer Group said on Thursday its unaudited first quarter net profit was LE 133.9 mn ($22.5 million). Amer, a property conglomerate, began trading on the stock exchange Nov. 30, after a heavily oversubscribed initial public offering. The firm did not provide a figure for the first quarter of 2010 but gave a full 2010 year net profit figure of LE 557.1 mn . Revenue was LE 329.9 mn for the 2011 first quarter. The firm told Reuters in an interview in October it saw enough untouched land along Egypt's coasts and in its deserts for another 20 of its residential and commercial projects. Shares in Amer, which owns hotels, restaurants, malls, a catering firm, a utilities company and other businesses, were down 0.7 per cent in early trade, while the benchmark index.EGX30was also down 0.8 per cent.