Arab Finance: Acrow Misr for Scaffolding and Formwork (ACRO) reported a 37.8% year-on-year (YoY) decline in consolidated profit attributable to the parent company for the first half (H1) of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on August 17th.

Consolidated profit excluding minority interest amounted to EGP 54.28 million in H1 2022 from EGP 87.32 million in H1 2021.

The company’s consolidated revenue increased to EGP 749.71 million in the six-month period ended June 30th from EGP 742.77 million in the same period a year earlier.

Meanwhile, the company’s standalone net profit after tax fell to EGP 53.39 million in the January-June period of 2022 from EGP 97.41 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.