Cairo – Mubasher: Acrow Misr for Scaffolding and Formwork posted an increase in its consolidated profits for the first quarter of 2016, said the company in a bourse filing.

The company’s earnings rose by 18% year-over-year to EGP 41.58 million ($4.64 million) from EGP 35.14 million ($3.92 million) taking minority rights into consideration.

On the level of standalone results, the company gained EGP 39.03 million ($4.4 million) in Q1 versus EGP 35.82 million ($4.04 million) for the year-ago quarter.

Over 2015, the company registered EGP 117.1 million profits.