Egypt’s property developer Amer profits shrink in H1

Egyptian real estate firm Amer Group Holding’s first-half profits dropped to 55.08 million Egyptian pounds ($3.1 million) from 63.3 million pounds last year, according to its financial statements released on Wednesday.

Revenues fell to 802 million pounds, compared with 1.03 billion pounds last year.

In 2017, the company made profits worth 92.9 million pounds down from 184.4 million pounds in 2016.