ICON registers 17% profit decline

17% Year on Year decline in its consolidated net profit in the first nine months

ArabFinance: Industrial Engineering Company for Construction and Development (ICON) reported a 17% Year on Year decline in its consolidated net profit in the first nine months of 2020, according to the company’s November 30thfinancial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 51,238,311 in the January-September 2020, compared to EGP 61,865,063 achieved in the prior-year period.

The company repaid EGP 7 million, the remaining amount of medium-term loan obtained by Societe Arabe Internationale De Banque.

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.

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