ICON posts 57% profit decline

The company distributed cash dividends

ArabFinance: Industrial Engineering Company for Construction and Development (ICON) (ENGC) reported a 57% Year on Year fall in its consolidated net profit in Quarter one (Q1) of 2020, according to the company's June 21st financial statements filed to the Egyptian Exchange.

Consolidated net profit reached at EGP 22,662,030 in Q1 2020, compared to EGP 52,571,249 posted in Q1 2019.

Standalone net loss stood at EGP 3,856,593 in Q1 2020, against EGP 6,845,067 achieved in Q1 2019.

The company distributed cash dividends of EGP 0.30 per share on June 3rd to the shareholders recorded on May 31st.

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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