Cairo – Mubasher: The consolidated net profits of Amer Group Holding Co surged by 1,870% year-on-year (YoY) to EGP 209.92 million in the first quarter (Q1) of 2021, compared to EGP 10.65 million, including minority shareholders’ rights.

The group’s revenues leapt to EGP 1.02 billion in the January-March period, compared to EGP 303.49 million in the year-ago period, according to a bourse disclosure on Sunday.

As for standalone business, the group turned to net profits of EGP 29.83 million in Q1-21, versus net losses of EGP 8.44 million in Q1-20.

During 2020, Amer Group recorded net profits of EGP 25.51 million, down from EGP 56.4 million a year earlier, including minority shareholders’ rights.