Acrow Misr Q3 profits jump 89%

Acrow Misr Q3 profits jump 89%
Acrow Misr Q3 profits jump 89%
Acrow Misr ACRO -0.34% 84.08 -0.29

Cairo - Mubasher: Acrow Misr for Scaffolding and Formwork’s consolidated financial statement showed a profit increase of 89% year-on-year in the third quarter of 2017, led by revenue growth.

Profits reached EGP 25.6 million in Q3-17, compared to EGP 13.56 million in Q3-16, according to a bourse filing released on Thursday.

Acrow Misr’s revenues jumped to EGP 320.7 million in Q3-17, versus EGP 136.45 in the year-ago period.

In terms of the first three quarters of 2017, Acrow Misr’s profits rose to EGP 89.22 million compared to EGP 81.09 million in the same period in 2016.

As for standalone profits, these increased to EGP 69.82 million in the first nine months in 2017 from EGP 68.53 million in the corresponding period of 2016.

Acrow Misr had previously posted profits of EGP 11.19 in Q2-17, versus EGP 25.9 million in Q2-16, while its revenues had gone up to EGP 276.6 million, compared to EGP 175.26 million.

By 12:24 pm on Thursday, Acrow Misr’s stock grew 1.35% to EGP 87.14. 

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Source: Mubasher

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