Egypt's Amer Group profits up 10.6%

Reuters, Tuesday 15 Mar 2011

Property firm reports healthy growth over 2010

Egyptian real estate company Amer Group reported on Tuesday a 2010 full-year net profit of 557.1 million Egyptian pounds, up 10.6 per cent on the previous year.

The firm reported a net profit of LE503.6m in 2009.

Shares in the property conglomerate, which sells holiday homes on Egypt's coasts and elsewhere, began trading on the stock exchange at the end of November following a heavily oversubscribed initial public offering.

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