Acrow Misr’s consolidated profit jumps to over $8.3mln in Q1-24

Acrow Misr for Scaffolding and Formwork reported a consolidated net profit of EGP 400.29 million in the first quarter (Q1) of 2024 from EGP 146.79 million in Q1-23.

Revenues from contracts with clients soared to EGP 893.66 million in Q1-24 from EGP 478.90 million in Q1-23, according to the interim financial results.

The earnings per share (EPS) reached EGP 7.27 in the three-month period that ended on 31 March 2024, up from EGP 2.67 in the corresponding period a year earlier.

Standalone Results

Acrow Misr’s standalone net profit increased to EGP 327.35 million in the January-March period from EGP 140.29 million in the comparative period the year before.

Standalone revenues grew to EGP 834.07 million in Q1-24 from EGP 424.41 million in Q1-23.

Acrow Misr logged a consolidated net profit of EGP 344.36 million in 2023, up from EGP 113.11 million in 2022.

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