Arab Finance: Acrow Misr for Scaffolding and Formwork (ACRO) posted a 25.7% year-on-year (YoY) decrease in consolidated profit attributable to the parent company during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 16th.

The company’s consolidated profit excluding minority interest declined to EGP 95.24 million in the nine months to September 30th from EGP 128.19 million in the same period a year earlier.

Revenue shrank to EGP 1.152 billion in January-September from EGP 1.156 billion in the comparative nine-month period of 2021.

Furthermore, the standalone net profit after tax dropped to EGP 80.628 million in the period from January to September from EGP 145.47 million in the same period last year.

Established in 1977 and listed on EGX in 1982, Acrow Misr operates within the capital goods sector, focusing on construction and engineering.