Egypt’s ICON profits rise 478% in nine months

Egyptian Industrial Engineering Company for Construction and Development (ICON) reported on Monday a 478 percent increase in its nine-month profits to reach 361.6 million Egyptian pounds ($20.1 million).

Revenues rose to 927.16 million pounds at the end of September, compared with 476.9 million pounds last year.

The company made a first half net profit worth 351.13 million pounds, up from 38.35 million pounds during the same period in 2017.

Revenues jumped to 554.74 million pounds at the end of June, against 283.74 million pounds last year.

Founded in 1977, ICON provides all steel-sheets related industries in Egypt. It is located in Wadi Hoof, Helwan over 350,000 square metres.

The Cairo-based company provides and operates building and unit projects manufactured from structures applied using its famous ICON sandwich panels and corrugated galvanised steel sheets.