Amer Group’s full-year net income plunges 79%

February 25, 2014 3:27 am

Egyptian real estate firm, Amer Group has reported a 79% fall in net profit for 2013, Reuters has reported. The group, which owns hotels, restaurants, malls, and other businesses, made EGP31.996m ($4.6m) last year, compared with EGP155.554m ($22.3m) in 2012. Revenues for the year dropped to EGP877.7m ($126m) from EGP1.15bn ($0.16bn) a year earlier, the firm said.