Cairo – Mubasher: Industrial Engineering Company for Construction and Development (ICON) posted consolidated net profits after tax valued at EGP 267.61 million in the first half (H1) of 2023.
The recorded profits were higher than EGP 72.20 million in H1-22, including minority interest, according to the consolidated income statements.
Revenues from contracts with customers reached EGP 1.37 billion in the first six months (6M) of 2023, up year-on-year (YoY) from EGP 1.06 billion in H1-22.
Earnings per share (EPS) rose to EGP 1.48 in January-June 2023 from EGP 0.41 a year earlier.
Total assets hit EGP 4.37 billion during H1-23, higher than EGP 3.33 billion as of 31 December 2022.
Standalone Financials
The EGX-listed firm turned to standalone net losses after tax valued at EGP 6.87 million in 6M-23, versus net profits worth EGP 16.65 million during the same period in 2022.
Loss per share stood at EGP 0.04 in H1-23, against EPS of EGP 0.11 in the year-ago period.
Financial Statements for Q2-23
During the second quarter (Q2) of 2023, ICON generated higher consolidated net profits after tax at EGP 94.35 million, compared to EGP 42.39 million in Q2-22, including non-controlling equity.
Revenues hiked to EGP 659.89 million in the April-June 2023 period from EGP 468.46 million during the same period a year earlier, while the EPS climbed to EGP 0.52 from EGP 0.24.
As for the standalone business, the company also shifted to net losses amounting to EGP 6.23 million in Q2-23, against net profits of EGP 11.20 million in Q2-22.
Non-consolidated loss per share reached EGP 0.04, versus a profit per share standing at EGP 0.07.
Last July, ICON raised its issued and paid-up capital to EGP 582 million from EGP 485 million by granting bonus shares.
