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ICON’s consolidated profit records EGP 423m in 2023; dividends proposed

ICON’s consolidated profit records EGP 423m in 2023; dividends proposed
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Cairo – Mubasher: Industrial Engineering Company for Construction and Development (ICON) reported a net consolidated profit after tax of EGP 423.59 million in 2023, up from EGP 145.41 million the year before.

Revenues surged to EGP 3.62 billion last year from EGP 2.30 billion in 2022, according to the annual financial results.

The basic and diluted earnings per share (EPS) jumped to EGP 2.06 in 2023 from EGP 0.74 a year earlier.

Standalone Results

ICON’s standalone net profit skyrocketed to EGP 209.54 million last year from EGP 4.72 million in 2022.

Revenues reached EGP 913.35 million in the 12 months that ended on 31 December 2023, up from EGP 737.65 million the year before.

Cash  Dividends

ICON’s board of directors approved the distribution of EGP 1.25 per share in cash dividends for 2023.

In the first nine months (9M) of 2023, ICON’s consolidated net profit after tax and the minority interests recorded EGP 338.96 million, a surge from EGP 111.15 million in the same period a year earlier.