Tawasul
Mubasher TV
Contact Us Advertising   العربية

ICON's profit surges 153% in H1-21 on higher revenue

ICON's profit surges 153% in H1-21 on higher revenue
The revenues surged to EGP 1.006 billion in the January-June period
ICON
ENGC
-1.17% 5.90 -0.07

Cairo – Mubasher: Industrial Engineering Company for Construction and Development (ICON) reported consolidated net profits of EGP 91.66 million in the first half (H1) of 2021, up by 153% year-on-year (YoY) from EGP 36.2 million. 

The profits attributable to the parent company's shareholders rose to EGP 73.67 million from EGP 26.91 million, while the profits attributable to minority interests increased to EGP 17.99 million from EGP 9.29 million, the company said in a bourse disclosure on Sunday. 

The revenues surged to EGP 1.006 billion in the January-June period from EGP 656.53 million in the corresponding period a year earlier. 

Earlier, the company reported its standalone net profits at EGP 12.49 million in H1-21, versus net losses of about EGP 572,930 in H1-20. 

In the first quarter (Q1) of 2021, ICON logged net profits of EGP 55.34 million, up from EGP 22.66 million in Q1-20, including minority shareholders' rights.