Cairo – Mubasher: The consolidated net profit after tax and the minority of Industrial Engineering Company for Construction and Development (ICON) hit EGP 338.96 million in the first nine months (9M) of 2023.
The recorded net profits were higher by 204.90% year-on-year (YoY) than EGP 111.15 million, according to the consolidated financial results.
Revenues enlarged by 48% to EGP 2.42 billion in 9M-23 from EGP 1.63 million in 9M-22, while the earnings per share (EPS) surged to EGP 2.33 from EGP 0.93.
Standalone Business
ICON achieved standalone net profits after tax valued at EGP 39.42 million as of 30 September 2023, versus EGP 35.25 million a year earlier.
Non-consolidated revenues jumped to EGP 595.47 million in 9M-23 from EGP 490.47 million in the year-ago period, while profit per share increased to EGP 0.27 from EGP 0.24.
Financials for Q3-23
During the third quarter (Q3) of 2023, the listed firm posted 136.30% YoY higher consolidated net profits after minority at EGP 122.64 million, compared to EGP 51.90 million.
The revenues hiked by 82.80% to EGP 1.05 billion in Q3-23 from EGP 575.09 million in Q3-22, while the EPS widened to EGP 0.84 from EGP 0.36.
In July-September 2023, the EGX-listed company turned to standalone net losses worth EGP 4.22 million, compared to net profits valued at EGP 18.60 million in Q3-22. Meanwhile, the revenues dropped to EGP 113.10 million from 176.75 million.
As of 30 June 2023, the consolidated net profits after tax amounted to EGP 267.61 million, an annual leap from EGP 72.20 million, including minority interest.
