Cairo – Mubasher: Amer Group Holding’s consolidated profits for the first quarter of 2016 rose 36% year-over-year to EGP 68 million from EGP 50 million, the company said in a bourse filing.
The real estate division grabbed the lion’s shares of revenues, registering 81% out of the total proceeds. Meanwhile, restaurants, hotels, malls, and other lines of business account for 10%, 3.2%, 2.3%, and 2.35% respectively, the company indicated.
Based on its standalone financial results, the company earned EGP 7.6 million in Q1-16, recording a jump of 518% year-on-year from EGP 1.23 million
Amer Group ascribed higher earnings to an increase in revenues by EGP 81 million to EGP 544 million, compared with EGP 463 million for the year-ago quarter, said the company.
“Revenues reached EGP 172 million in the first three months of 2016. In addition, total reservations and contracts rose to EGP 3.27 billion during the same period compared to EGP 3.6 billion for the period ended in December 2015”, the company pointed out.
During 2015, the company earned a net of EGP 167.86 million , 21.2% lower from EGP 213.04 million.
