Acrow Misr’s consolidated profits sink 62.4% YoY in Q1
Updated 7/21/2022 10:45:00 AM
Arab Finance: Acrow Misr for Scaffolding and Formwork (ACRO) reported a 62.44% year-on-year (YoY) decrease in consolidated profit attributable to the parent company during the first quarter (Q1) of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on July 21st.
Consolidated profit excluding minority interest plummeted to EGP 22.863 million in Q1 2022 from EGP 60.867 million in Q1 2021.
The company’s consolidated revenue surged to EGP 427.691 million in the three-month period ended March 31st from EGP 351.411 million in the same period a year earlier.
Standalone net profit after tax dropped to EGP 22.568 million in the January-March period of 2022 from EGP 51.006 million the year-ago period.
Established in 1977 and listed on EGX in 1982, Acrow Misr operates within the capital goods sector, focusing on construction and engineering.
