ArabFinance: Acrow Formwork Technology (ACRO) posted a 49% Year on Year decline in its consolidated net profit in the first half (H1) of 2020, according to the company’s August 25th financial statements filed to the Egyptian Exchange (EGX).
Consolidated net profit before minority interest stood at EGP 36,209,284 in H1 2020, compared to EGP 71,165,386 achieved in H1 2019.
Standalone net profit reached EGP 49,674,946 in H1 2020, an 35.5% rise from EGP 77,127,616 posted in H1 2019.
In February, Acrow’s board decided to inaugurate a branch in Kenya under the name of Acrow Formwork East Africa Limited.
Established in 1977 and listed on EGX in 1982, the listed company operates within the capital goods sector, focusing on construction and engineering.
