AMER GROUP HOLDING
AMER
Financial ResultsNegative News
Amer Group Reports 64% Plunge in Q1-24 Net Profit Amid Revenue Decline
Amer Group's Q1-24 net profit drops 64% to EGP 15m as revenues and EPS decline; standalone loss recorded.
May 16, 2024 at 11:14:00 AMScore: 25
Amer Group Holding Company recorded a consolidated net profit of EGP 14.97 million in Q1-24, a sharp decline from EGP 41.41 million in Q1-23. Revenues fell to EGP 265.42 million from EGP 390.43 million year-on-year. Earnings per share (EPS) dropped to EGP 0.01 from EGP 0.03. On a standalone basis, the company reported a net loss after tax of EGP 2.77 million, contrasting with a EGP 11.71 million profit in Q1-23. Despite a consolidated net profit of EGP 45.91 million in 2023 (reversing a EGP 101.87 million loss in 2022), Q1-24 results signal ongoing challenges.
Recommended Actions
- Consider holding or selling existing shares pending recovery signs
- Monitor Q2-24 performance for trend confirmation
- Diversify investments to mitigate sector-specific risks
- Avoid new investments until profitability stabilizes
- Review company's cost-reduction strategies in filings
Negative Aspects
- 64% drop in consolidated net profit
- 32% revenue decline
- 75% EPS reduction
- Standalone net loss after tax
Recent News
January 22, 2024 at 12:37:00 PMGiza Contracting Secures EGP 539 Million Mega-Contract for New Aswan City Development
July 3, 2024 at 10:22:00 AMLink Holdco Trims Fawry Stake Amid Block Trade Surge
March 10, 2024 at 12:07:00 PMRaya Holding Soars to EGP 564M Profit in 2023 Amid Revenue Surge
May 29, 2024 at 10:36:00 AMRaya Holding Soars with 131% Profit Surge in Q1-24 Amid Standalone Losses
GGCC
GIZA GENERAL CONTRACTINGEgyptian construction giant lands major infrastructure deal while navigating revenue challenges in 2023 financials
FWRY
FAWRY FOR BANKING TECHNOLOGY AND ELECTRONIC PAYMENTLink Holdco reduces Fawry stake to 4.99% following a EGP 1.02B block trade; Q1 profit surges 135% YoY.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports a 34% profit surge to EGP 564M in 2023, driven by revenue growth, but standalone losses widen.
RAYA
RAYA HOLDING FOR FINANCIAL INVESTMENTSRaya Holding reports soaring Q1-24 consolidated profits but faces standalone losses as revenues and assets grow.
