Amer Group FY2016 earnings

** Earnings Watch: Amer Group reported a 9.88% y-o-y increase in net profit after tax and minority interest for FY2016, coming in at EGP 184.45 mn compared to EGP 167.87 mn in FY2015, according to a regulatory filing. The news came as sister company Porto Group’s board of directors approved a global depositary receipt program, according to a company disclosure. Arqaam Capital will be managing the issuance, while Matouk Bassiouny is legal counsel, Al Shorouk says.