Egypt’s Amer Group turns profitable in 2023

Egyptian real estate company, Amer Group reported on Tuesday a consolidated net profit of 45.9 million Egyptian pounds ($1.5 million) for 2023, opposed to a net loss of 195.16 million pounds for 2022.

According to a disclosure Amer Group sent to the Egyptian Exchange (EGX), the company’s full-year revenues surged 46.6 per cent to 1.23 billion pounds at the end of December 2023, from 870.4 million pounds at the end of 2022.