ArabFinance: Acrow Formwork Technology, known as Acrow Misr, reported a 37% Year on Year fall in its consolidated net profit in Quarter one (Q1) of 2020, according to the company's June 21st financial statements filed to the Egyptian Exchange.
Consolidated net profit reached EGP 30,755,382 in Q1 2020, compared to EGP 49,013,580 posted in Q1 2019.
Standalone net profit stood at EGP 14,538,898 in Q1 2020, a 72% decline from EGP 53,005,497 achieved in Q1 2019.
In February, Acrow’s board of directors decided to inaugurate a branch in Kenya under the name of Acrow Formwork East Africa Limited.
Established in 1977 and listed on EGX in 1982, Acrow Misr for Scaffolding and Formwork, commonly known as Acrow Misr, operates within the capital goods sector, focusing on construction and engineering.
