Acrow Misr’s consolidated profits exceed $3.65mln in 2022

Acrow Misr for Scaffolding and Formwork posted EGP 113.11 million in consolidated net profit after tax in 2022, an annual drop from EGP 122.04 million, including minority interest.

Basic and diluted earnings per share (EPS) reached EGP 1.75 last year, lower than EGP 1.84 in 2021, according to the income statements.

The revenues grew to EGP 1.57 billion in 2022 from EGP 1.54 billion as of 31 December 2021, while the total assets climbed to EGP 2.60 billion from EGP 2.32 billion.

Standalone Financial Results

The company’s standalone net profits after tax plummeted to EGP 139.40 million in 2022 from EGP 158 million a year earlier, while the EPS retreated to EGP 2.22 from EGP 2.51.

Non-consolidated revenues shrank to EGP 1.29 billion last year from EGP 1.38 billion in January-December 2021, whereas the total assets climbed to EGP 2.24 billion from EGP 2.05 billion.

In the first nine months (9M) of 2022, Acrow Misr registered consolidated net profits after tax valued at EGP 98.24 million, down from EGP 129.51 million in 9M-21, including non-controlling interest.