Cairo – Mubasher: The consolidated financial statements of Acrow Misr for Scaffolding and Formwork showed a 47.3% year-on-year (YoY) decrease in its net profits, logging EGP 38.02 million in the first half (H1) of 2020, compared to EGP 72.25 million, including minority shareholders’ rights.
Meanwhile, the company’s revenues fell to EGP 449.99 million in the January-June period from EGP 615.4 million in the prior-year period, according to a bourse filing on Tuesday.
As for the second quarter (Q2) of the year, Acrow Misr achieved net profits of EGP 7.27 million, down from EGP 23.2 million in Q2-19.
As for H1-20 standalone financials, the company’s net profits dropped to EGP 49.67 million from EGP 77.12 million in H1-19.
During the first three months of 2020, Acrow Misr reported EGP 30.75 million in net profits, compared to EGP 49.01 million in the corresponding period a year earlier, including minority shareholders’ rights.
