Egypt’s Amer Group net profit hits USD14.2m in Jan-Sep

16 Nov 2015

(MENAFN) Amer Group Holding CO., the top Egypt-based company engaged in the real estate development and hospitality management sector recorded a net profit of USD14.2 million over the nine months to Sept.

Accordingly, the registered figures are considered a decent amount bearing in mind the tough circumstances the group is going through, which comprise of it splitting into two separate groups.

However, compared with last year’s profits, a 33.8 percent decline was reported mainly due to more costs which incurred from the split, as opposed to 2014’s posted net profits worth up to USD21.4 million.

In more detail about the group, it basically develops, manages and operates several real estate projects, hotels and touristic resorts located at the Egyptian northern coast and the on the Red Sea costs.

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