“Akro Misr” approves a distribution of 1.75 pounds per share

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The board of directors of “Akro Misr Metallic Scaffolding and Formwork” company agreed to distribute 1.75 pounds per share, part of the retained earnings for the financial period ending on December 31 last.

The proposed value of the distribution amounted to about 96.4 million pounds, at 1.75 pounds per share, to be presented to the ordinary general assembly.

Acrow Misr Metallic Scaffolding and Formwork Company achieved an increase in consolidated net profits during the first quarter of this year to reach 61.887 million pounds, compared to 30.755 million pounds in the comparative quarter, taking into account minority rights.

Revenues jumped to 351.411 million pounds from January to the end of last March, compared to 251.539 million pounds in the comparable period.

The cost of obtaining revenues increased during the same period to 223.452 million pounds, compared to 169.435 million pounds in the same period in 2020.

Gross profit rose during the first quarter of this year to 127.958 million pounds, compared to 82.103 million pounds in the corresponding quarter.

The basic share of profit per share amounted to 1.1 pounds, compared to 0.54 pounds in the comparable period.

In terms of independent businesses, Acrow Misr’s net profits rose to 51.005 million pounds in the period from January to the end of last March, compared to 14.538 million pounds in the same period.

Revenues rose during the same period to 318,226 million pounds, compared to 228,506 million pounds in the comparable period.

The article “Akro Misr” approves the distribution of 1.75 pounds per share was written in Al Borsa newspaper.