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Arab Cotton Ginning 9M losses widen 455.8%

Arab Cotton Ginning 9M losses widen 455.8%
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Arab Cotton Ginning
ACGC
0.94% 6.46 0.06

Cairo – Mubasher: Arab Cotton Ginning Co. posted a 455.8% surge in consolidated net loss for the nine-month period ended 31 March, according to a bourse filing Thursday.

The ginning company logged EGP 36.1 million ($4.7 million) in net loss, compared with EGP 6.5 million ($849,000) in the corresponding period in the fiscal year 2013/2014.

H1-14/15 net loss stood at EGP 26.8 million, compared with EGP 6.7 million in the year-ago period.