Amer Group shifts to $6.30mln consolidated losses in 2022

 Amer Group Holding Company turned to consolidated net losses after tax worth EGP 195.16 million in 2022, versus net profits of EGP 83.21 million in 2021, including minority interest.

Loss per share reached EGP 0.22 last year, against earnings per share (EPS) of EGP 0.01 in the January-December 2021 period, according to the financial results.

The revenues plummeted to EGP 870.48 million in 2022 from EGP 1.37 billion in 2021, whereas the total assets enlarged to EGP 9.97 billion from EGP 8.86 billion.

Standalone Business

Amer Group incurred standalone net losses after tax worth EGP 46.33 million in 2022, higher than EGP 1.29 million in the 12-month period that ended on 31 December 2021.

Non-consolidated loss per share increased to EGP 0.051 last year from EGP 0.001 in 2021, while the total assets declined to EGP 1.22 billion from EGP 1.65 billion.

In the first nine months (9M) of 2022, the consolidated net profits of the EGX-listed firm amounted to EGP 35.13 million, down from EGP 187.92 million in 9M-21.