Egypt’s Amer Group posts 87% Drop in Q1 Profit

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Egypt real estate company Amer Group’s first-quarter net profit fell 87 percent to 2.026 million Egyptian pounds ($288,200), the company said in a statement sent to the stock exchange on Thursday.

Net profit for Amer (AMER.CA) was 15.352 million pounds in the same period a year earlier.

Source: Reuters