Cairo – Mubasher: Nile Cotton Ginning announced turning profitable during fiscal year 2018/2019.

The company logged a net profit of EGP 7.84 million from July 2018 to last June, versus a loss of EGP 2.61 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, revenues increased to EGP 13.48 million in FY18/19, compared to EGP 12.05 million in FY17/18.

During the first nine months of FY18/19, the company’s net profits rose to EGP 3.57 million from EGP 1.98 million in the same period of FY17/18.