Cairo – Mubasher: The consolidated net profits after tax of Acrow Misr for Scaffolding and Formwork retreated to EGP 98.24 million in the first nine months (9M) of 2022, compared to EGP 129.51 million in 9M-21, including non-controlling interest.

Revenues decreased to EGP 1.152 billion in 9M-22 from EGP 1.155 billion in the year-ago period, according to the income statements.

The earnings per share (EPS) stood at EGP 1.73 in January-September 2022, versus EGP 2.33 in 9M-21.

During the third quarter (Q3) of 2022, the net profits after tax increased to EGP 42.41 million from EGP 40.67 million in Q3-21, while the revenues declined to EGP 402.56 million from EGP 412.83 million.

Meanwhile, the consolidated EPS settled at EGP 0.74 in Q3-22, unchanged from Q3-21

Standalone Business

Acrow Misr reported standalone net profits after tax worth EGP 80.62 million in the nine-month period which ended on 30 September 2022, an annual drop from EGP 145.47 million.

The non-consolidated revenues plummeted to EGP 987.09 million in 9M-22 from EGP 1.06 billion in 9M-21, whereas the standalone EPS declined to EGP 1.46 from EGP 2.64.

During Q3-22, the net profits after tax shrank to EGP 27.23 million from EGP 48.05 million in Q3-21, whereas the EPS decreased to EGP 0.50 from EGP 0.87.

The standalone revenues went down to EGP 344.52 million in Q3-22 from EGP 395.12 million in Q3-21.

In the first half (H1) of 2022, the EGX-listed firm registered consolidated net profits after tax at a value of EGP 55.83 million, lower than EGP 88.84 million in H1-21, including minority shareholders’ rights.