Acrow Misr’s consolidated profits retreat to EGP 56m in H1-22

Cairo – Mubasher: The consolidated net profits after tax of Acrow Misr for Scaffolding and Formwork plummeted to EGP 55.83 million in the first half (H1) of 2022, compared to EGP 88.84 million in H1-21, including minority interest.

Acrow Misr generated EGP 749.71 million in revenue during the first six months (6M) of 2022, up from EGP 742.77 million in the year-ago period, according to the income statements.

The earnings per share (EPS) decreased to EGP 0.99 in H1-22 from EGP 1.59 in H1-21.

During the second quarter (Q2) of 2022, the consolidated net profits after tax amounted to EGP 32.23 million, higher than EGP 26.95 million during the same period a year earlier, including non-controlling interest.

The consolidated revenues declined to EGP 322.02 million in Q2-22 from EGP 391.36 million in Q2-21, while the earnings per share rose to EGP 0.57 from EGP 0.48.

Non-consolidated Financials

As for the standalone businesses, the company registered EGP 53.39 million in net profit after tax during the January-June 2022 period, lower than EGP 97.41 million in H1-21.

The non-consolidated revenues fell to EGP 642.57 million in H1-22 from EGP 674.75 million in H1-21.

Meanwhile, the standalone EPS stood at EGP 0.97 in H1-22, compared to EGP 1.77 in H1-21.

In Q2-22, the standalone net profits dropped to EGP 30.82 million from EGP 46.41 million in Q2-21, while the revenues shrank to EGP 268.65 million from EGP 356.53 million.

The Q2-22 earnings per share levelled down to EGP 0.56 from EGP 0.84 in Q2-21

In the January-March 2022 period, Acrow Misr posted a plunge in consolidated net profit after tax to EGP 23.59 million, versus EGP 61.88 million in Q1-21.

Mubasher Contribution Time: 18-Aug-2022 15:55 (GMT)
Mubasher Last Update Time: 18-Aug-2022 15:58 (GMT)