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Acrow Misr posts 43% YoY standalone profit decline in 9M/19

Acrow Misr posts 43% YoY standalone profit decline in 9M/19
Profit plummeted to EGP 430,980 in Q3
Acrow Misr
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Cairo – MubasherAcrow Misr for Scaffolding and Formwork has reported a 42.7% year-on-year profit decline during the first nine months of 2019, the company's standalone financial statements showed. 

The company’s net profit dropped to EGP 77.55 million from January to September 2019, compared to EGP 135.4 million in the year-ago period, according to a bourse statement. 

Revenue went down to EGP 750.34 million in the January-September period, from EGP 790.5 million a year earlier.

Acrow Misr’s profit plummeted to EGP 430,980 during the third quarter of 2019, against EGP 29.46 million the year before.

It is worth noting that the EGX-listed company’s net profits plunged to EGP 72.25 million in the six-month period ended 30 June, compared to EGP 124.5 million in the corresponding period a year earlier.