Saudi stocks rise, lifted by banking shares    Sudan's ex-president Bashir arrives at corruption trial    Tennis: Pera, Cornet advance as thunderstorms rumble in the Bronx    Trump, US officials dismiss recession fears, defend trade war    UK's Johnson to face EU leaders for Brexit talks, uncertainty roils UK markets    Bayern Munich sign Coutinho on loan from Barcelona    Balotelli joins hometown club Brescia on free transfer    Cairo's historic Tahrir square to be renovated – PM    Gold falls on firmer dollar, markets    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    No indication Libya's Zuwara Airport was used in military operations: UN    Three Palestinians killed by Israeli fire in Gaza    Declining global interest rates to encourage hard currency borrowing in EM: IIF    Outstanding balances of T-bills, bonds reach EGP 1.97tn end-July    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    Al-Sisi honours Egypt's scholars on Science Day    South Korea, Egypt discuss inking FTA soon    12th National Egyptian Theatre Festival fuel up public theatre art scene    Bomb blast kills Pakistani tribal elder near Afghan border    UK faces food, fuel and drugs shortages in no-deal Brexit    28th Citadel Festival for Music and Singing embraces attendees with international troupes    Egypt's FRA awards Banque Misr non-banking financial activities licence    A simple diet change could help live longer, reduce cardiovascular risks by 16%    Personalized cancer treatment wins FDA approval    Egypt condemns Houthis' attack on Saudi oil field    Serbian Micho to be Zamalek's new coach: Egypt's Mortada Mansour    Cairo University tops 2019 Shanghai Academic Ranking    3 sentenced to death for 2016 killing of 4 Egyptian policemen    Ministry of Environment has a plan for "black clouds season"    Too early to estimate Nile's flooding volume: Irrigation Ministry    Cairo University jumps 100 ranks in Shanghai Ranking    Egypt's Sisi appoints new Suez Canal Authority chairman    Sudan's key opposition may nominate economist Abdalla Hamdok for prime minister    Disney warrior Mulan star: ‘I support the Hong Kong police, #BoycottMulan trending    Egypt's Zamalek equal club record with 7-0 hammering of Somalia's Dekedaha    Egypt to launch Bike for Every Citizen initiative soon    LA Opera declines details on longtime general director's investigation    Samih Sawiris lays foundation stone of El Gouna Cultural Center    Ebola outbreak spreads to 3rd province in eastern Congo    Economic, educational legislations will top fifth parliamentary round    Sudan opposition to nominate economist Abdalla Hamdok for prime minister: Sources    Liverpool wins Super Cup after penalty shootout against Chelsea    Egypt produces ‘Fraud' documentary on Muslim Brotherhood history    VIDEO: Egyptian Media Group releases ‘Scam,' documentary on ‘Muslim Brotherhood terrorist history'    Photo of Egyptologist Zahi Hawass to decorate NYC's Times Square to promote tourism to Egypt    Three incredible Egyptian athletes who challenged their disabilities    T. Jefferson Parker tells latest tale in tight, vivid prose    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Amer Group reports 50% decline in 2017 consolidated profits on lower revenues
Company net profit stands at EGP 92.9m versus EGP 184.4m in 2016
Published in Daily News Egypt on 04 - 02 - 2018

Amer Group Holding's consolidated net profit declined 50% in 2017, as the company revenues decelerate, the company said in a press release on Sunday.
Net profits stood at EGP 92.9m last year, versus EGP 184.4m profits in 2016.
Revenues narrowed to EGP 2.15bn in 2017 from EGP 2.4bn a year earlier.
Meanwhile, standalone profits jumped to EGP 163m in 2017, versus losses of EGP 11.72m the year before.
Company sales came in at EGP 1.49bn in 2017, against EGP 847m a year earlier.
Commenting on the company outlook in 2018, Amer Group said that it is currently studying investment opportunities to boost its revenues, including using its land bank in new projects in partnership with local developers.
In the first nine months of 2017, the company reported a 73.2% year-over-year drop in consolidated profits for the third quarter (Q3) of 2017 due to a decline in revenues.
Net profit stood at EGP 20.4m in the three-month period ending September 2017, versus EGP 76.3m in Q3 2016.
Revenues retreated to EGP 602.1m in Q3 2017 from EGP 889.9m in Q3 2016.
The net profit amounted to EGP 83.7m, compared to EGP 151.6m in the prior-year period.
Standalone profits rose to EGP 162.2m in the nine-month period ending September 2017 from EGP 1.4m in the corresponding period of 2016.
Amer Group shares fell 3.23% in Sunday's session.


Clic here to read the story from its source.