Cairo – Mubasher: The consolidated net profits of Amer Group Holding Company fell to EGP 13.88 million in the first half (H1) of 2024 from EGP 26.92 billion in H1-23, according to the financial results.
Net revenues amounted to EGP 523.33 million in H1-24, down year-on-year (YoY) from EGP 651.82 million. Earnings per share (EPS) declined to EGP 0.01 from EGP 0.02.
Total assets reached EGP 7.47 billion as of 30 June 2024, versus EGP 6.74 billion at the end of December 2023.
Standalone Results
The group turned to net losses valued at EGP 4.78 million in H1-24, against standalone net profits of EGP 5.40 million as of 30 June 2023. The loss per share hit EGP 0.005 when compared to a profit per share of EGP 0.005.
Financials for Q2-24
In the second quarter (Q2) of 2024, the consolidated net losses plummeted to EGP 1.08 million from EGP 14.49 million a year earlier.
The revenues dropped to EGP 251.42 million in Q2-24 from EGP 261.39 million in Q2-23.
Non-consolidated net losses shrank to EGP 2 million in Q2-24 from EGP 6.31 million a year earlier, whereas the loss per share decreased to EGP 0.002 from EGP 0.005.
As of 31 March 2024, Amer Group posted lower consolidated net profits at EGP 14.97 million, compared to EGP 41.41 million in Q1-23.
