Egypt’s Amer Group posts USD2.1m net profit in Q1

14 May 2015

(MENAFN) Egypt’s Amer Group recorded a net profit of USD2.1 million in the first quarter of the year, marking a tremendous increase by seven folds year-on-year, Daily News Egypt reported.

The profit registered last year stood at USD262.85 thousands. However, the group also managed to cut its loans down to USD15.3 million in the first quarter, against USD16.42 million in the fourth quarter 2014.

Amer Group generally takes up venture in which sectors like tourism, real estate, shopping malls and restaurants are involved; it also enjoys assets like, Porto Marina, Porto Sharm, Golf Bay mall and others.

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