Acrow Misr’s full-year profit increase
Updated 3/30/2020 10:57:48 AM
ArabFinance: Acrow Misr (ACRO) reported a 3% Year on Year (YoY) increase in its net consolidated profit for 2019.
The company posted a net consolidated profit of EGP 190,481,516 in 2019, compared to EGP 184,974,675 in the corresponding year, according to the released financial statement.
However, the company achieved standalone profit worth EGP 155,861,925 in 2019, compared to EGP 178,000,061 in 2018.
On March 29th, the board of directors approved establishing Acrow Tunis with limited liability in Tunis. The capital of new entity will amount to $25,000. Acrow Misr will own 49% of Acrow Tunis’ capital.
In February, Acrow’s board of directors decided inaugurating a branch in Kenya under the name of Acrow Formwork East Africa Limited.
Established in 1977 and listed in 1982, Acrow Misr for Scaffolding and Formwork, commonly known as Acrow Misr operates within the Capital Goods sector focusing on Construction and Engineering.
