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Acrow Misr reports 101% higher profit in Q1-21

Acrow Misr reports 101% higher profit in Q1-21
The revenues grew to EGP 351.41 million in the January-March period
Acrow Misr
ACRO
0.00% 31.94 0.00

Cairo - Mubasher: Acrow Misr for Scaffolding and Formwork posted consolidated net profits of EGP 61.88 million during the first quarter (Q1) of 2021, up by 101.2% year-on-year (YoY) from EGP 30.75 million, including minority shareholders’ rights. 

The revenues grew to EGP 351.41 million in the January-March period, compared to EGP 251.53 million in the prior-year period, the company said in a bourse disclosure on Sunday. 

Moreover, the company logged standalone net profits of EGP 51 million in Q1-21, up from EGP 14.54 million in Q1-20. 

In 2020, the company reported net profits of EGP 121.64 million, down from EGP 172.69 million in 2019, including minority shareholders’ rights.