ICON’s consolidated profit leap 183.16% YoY in 2023

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Industrial Engineering Company for Construction and Development (ICON) posted a 183.16% year-on-year (YoY) surge in consolidated net profit attributable to the parent for 2023, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on April 23rd.

Consolidated net profit attributable to the parent stood at EGP 348.349 million in 2023, compared to a profit of EGP 123.021 million in 2022.

The company generated gross profit of EGP 1.235 billion last year, growing from EGP 680.471 billion in 2022.

Meanwhile, the company’s standalone net profit after tax rose to EGP 209.546 million in 2023 from EGP 4.721 million in 2022.

ICON is an Egypt-based company engaged in manufacturing and producing several types of steel-sheets-related products.

The company’s products include sandwich steel panels, caravans, guard rails, purlins, pre-fabricated units, and corrugated sheets, galvanized tubes and pipes, aluminum windows, and doors.