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Amer Group posts 79% drop in 2013 profit

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Reuters – Egyptian real estate company Amer Group posted a 79% drop in net profit for 2013.

Amer Group, which owns hotels, restaurants, malls, and other businesses, made EGP 31.996m ($4.60m) last year, compared with EGP 155.554m in 2012, it said in a statement on Monday.

Revenues for 2013 dropped to EGP 877.7m compared with EGP 1.15bn a year earlier.

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