Arab Finance: Acrow Misr for Scaffolding and Formwork’s (ACRO) consolidated net profits after tax and non-controlling interests hiked 532.4% year on year (YoY) in the first quarter (Q1) of the year, reaching EGP 144.583 million, compared to EGP 22.863 million, according to the company’s financial statements.

The firm earned EGP 193.877 million in gross profit during the three-months period, up from EGP 115.999 million over the same period a year prior.

As for standalone business, the company saw a 521.7% annual surge in net profits after tax in Q1 2023 to EGP 140.297 million, versus EGP 22.568 million in Q1 2022.

Meanwhile, standalone gross profit rose to EGP 163.246 million from EGP 90.880 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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