Acrow Misr’s consolidated profits rise 174% YoY in Q1 2024

Updated 7/16/2024 9:56:00 AM
Acrow Misr’s consolidated profits rise 174% YoY in Q1 2024

Arab Finance: Acrow Misr for Scaffolding and Formwork (ACRO) reported a 174.3% year-on-year (YoY) increase in consolidated net profits after tax and minority interest in the first quarter (Q1) of 2024 to EGP 396.573 million from EGP 144.584 million, the company’s financial indicators showed.

The company’s revenues climbed to EGP 893.665 million in the three months to March 31st from EGP 478.901 million in the same period a year earlier.

As for standalone results, net profits after tax soared to EGP 327.36 million in Q1 2024, compared to EGP 140.298 million in Q1 2023.

Meanwhile, standalone operating revenues grew to EGP 834.071 million from EGP 424.411 million.

Established in 1977 and listed on EGX in 1982, Acrow Misr operates within the capital goods sector, focusing on construction and engineering.

 

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