Arab Finance: Acrow Misr for Scaffolding and Formwork’s (ACRO) consolidated net profits after tax and non-controlling interests jumped by 334.3% year on year (YoY) in the first half (H1) of the year, reaching EGP 235.805 million, compared to EGP 54.286 million, according to the company’s financial statements sent to the Egyptian Exchange on October 1^st.

The firm earned EGP 1.024 billion in sales during the six-month period, up from EGP 749.716 million during the same period a year earlier.

As for standalone business, the company saw a 331.8% annual surge in net profits after tax in H1 2023 to EGP 230.521 million, compared to EGP 53.391 million during the first six months of 2022.

Also, Acrow Misr's board of directors approved the establishment of a limited liability company by shares in Australia with a capital of $50,000.

Acrow Misr will contribute 95% of the new firm’s capital.

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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