Cairo – Mubasher: Acrow Misr for Scaffolding and Formwork has logged consolidated net profits after tax worth EGP 23.59 million in the first quarter (Q1) of 2022, lower than EGP 61.88 million in Q1-21.

Revenues increased to EGP 427.69 million in Q1-22 from EGP 351.41 million in Q1-21, according to a bourse filing.

The earnings per share (EPS) stood at EGP 0.42 during the January-March 2022 period, versus EGP 1.10 in the year-ago period.

As for the standalone business, Acrow Misr’s standalone net profits after tax plunged to EGP 22.56 million in Q1-22, compared to EGP 51 million in Q1-21.

The company’s revenues amounted to EGP 373.92 million in the first three months (3M) of 2022, versus EGP 318.22 million during the same period a year earlier.

Meanwhile, the standalone EPS settled at EGP 0.41 in Q1-22, lower than EGP 0.93 in Q1-21.

In the January-September period of 2021, the listed firm generated EGP 128.18 million in consolidated net profit, an annual leap of 98% from EGP 64.59 million.