ICON reports 58% profit decrease

The company distributed 2019's cash dividends

ArabFinance: Industrial Engineering Company for Construction and Development (ICON) (ENGC) reported a 58% Year on Year decline in its consolidated net profit in the first half (H1) of 2020, according to the company’s August 25th financial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 26,910,691 in H1 2020, compared to EGP 64,421,676 achieved in H1 2019.

Standalone net loss reached EGP 572,935 in H1 2020, against a net profit of EGP 6,605,558 in H1 2019.

The company distributed 2019's 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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