ICON reports 127% consolidated profit surge in 9 months

Revenues rising by 55%

  

ArabFinance: Industrial Engineering Company for Construction and Development (ICON) reported a 127% year-on-year surge in consolidated net profit excluding minority interest for the January-September period of 2021, according to the unaudited financial indicators filed to the Egyptian Exchange (EGX).

The company’s consolidated net profit excluding minority interest stood at EGP 116.41 million in the first nine months of 2021, compared to a profit of EGP 51.23 million in the year-ago period.

Moreover, the company recorded consolidated revenue of EGP 1.56 billion in the nine-month period ended September 30th, 2021, rising by 55% from EGP 1.012 billion in the same period of 2020.

Meanwhile, ICON’s standalone net profit after tax amounted to EGP 12.58 million in the January-September period of 2021, up from EGP 1.91 million in the prior-year period.

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, aluminium windows, and doors.

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